ECB asks banks to set aside more cash for bad debt amid €1tn problem

The Guardian//10-04-17

The European Central Bank is attempting to put a lid on the near €1tn (£886bn) of bad debts stored in eurozone banks by asking lenders to be more prudent about the way they handle new customers falling behind on repayments.

…The ECB wants lenders to set aside 100% of the value of an unsecured loan within two years and gives lenders seven years to put aside the full amount of a secured loan, such as a mortgage.

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