The Bank of Greece (BoG) has unveiled a framework for the operation of companies purchasing and managing non-performing loans (NPLs), which total 80 billion euros in the country, although market analysts pointed to an incomplete regime, given that open issues on the matter remain in talks between the Greek government and institutional creditors.
The Bank of Greece (BoG) has unveiled a framework for the operation of companies purchasing and managing non-performing loans (NPLs), which total 80 billion euros in the country, although market analysts pointed to an incomplete regime, given that open issues on the matter remain in talks between the Greek government and institutional creditors.
The published BoG material, nevertheless, is viewed as clarifying the process for collection. More information will reportedly be released this week, in light of continued talks between the “quartet” and the leftist Greek government.
According to BoG figures, NPLs in the country total 43.6 percent of all loan portfolios, a development that is dramatically hampering credit institutions in Greece and the real economy, which is being choked off from liquidity.