December 20, 2017 / 2:24 PM / a year ago

ECB to enforce bad loan rules after analysis of each bank - Angeloni

FILE PHOTO: European Union flags flutter outside the European Central Bank (ECB) headquarters in Frankfurt, Germany December 14, 2017. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) - The European Central Bank will only enforce its new, contested rules forcing banks to set aside more cash for loans that sour after a “detailed analysis” of each lender, a senior ECB supervisor said on Wednesday.

“The ECB will never oblige a bank to respect the addendum criteria without first conducting a detailed analysis of the specific circumstances of the bank,” Ignazio Angeloni told members of parliament in Italy, where the proposed guidelines have met with fierce opposition.

Reporting By Francesco Canepa; Editing by Catherine Evans

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