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ECB's Nouy defends stricter rules on bad loans in Parliament
November 9, 2017 / 8:11 AM / a month ago

ECB's Nouy defends stricter rules on bad loans in Parliament

FRANKFURT, Nov 9 (Reuters) - The European Central Bank’s top supervisor defended on Thursday the ECB’s new and stricter rules on unpaid bank loans against accusations they overstep the ECB’s bounds and may hurt the economy.

“Now is the right time for such an additional step given that we currently have very favourable economic conditions in Europe,” Daniele Nouy told the European Parliament economic committee in Brussels.

“This addendum, once adopted, falls within the supervisory mandate and powers of the ECB.” (Reporting By Francesco Canepa and Balazs Koranyi)

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