February 7, 2018 / 9:11 AM / a year ago

ECB to push back new regime on loans that sour - Nouy

FRANKFURT, Feb 7 (Reuters) - The European Central Bank will push back the entry into force of new rules forcing banks to set aside more cash for loans that go unpaid, the ECB’s chief supervisor Daniele Nouy said on Wednesday.

“We will shift the date from which the guidance applies to new NPLs (non performing loans),” Nouy said, confirming a Reuters report published in January.

“We will also make it even clearer that we will follow a case-by-case approach as part of our Pillar 2 framework. We will publish the final addendum by mid-March.”

Reporting by Francesco Canepa; Editing by Alison Williams

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