The International Monetary Fund strongly supports the European Central Bank`s recent proposal to increase provision requirements for new non-performing loans, IMF European Department chief Poul Thomsen said on Friday.
The ECB recently proposed requiring lenders to increase loan loss provisions on newly classified non-performing, unsecured loans to 100 percent over two years. For secured loans, provisions would need to rise to 100 percent over seven years.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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