In the June edition of the Butterworths Journal of International Banking and Financial Law, Toby Mann and Julia Machin from Clifford Chance look at the the EU proposed measures on non-performing loans.
Non-performing loans (NPLs) are classed by the EU as loans with payments more than 90 days overdue or assessed as unlikely to be repaid. Various measures intended to facilitate the reduction in the number of NPLs held by European Banks and to improve the secondary market are included in a recent legislative package adopted by the European Commission and are going through the EU legislative process. The package contains some unexpected measures.
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