December 6, 2018 / 9:53 AM / 8 days ago

EU lawmakers back softer rules on bank provisions for bad loans

BRUSSELS, Dec 6 (Reuters) - European Union lawmakers on Thursday backed new rules that would soften requirements on the money that lenders must set aside to cover potential losses from new debt that turns sour.

A legislative text put to the vote in the economic affairs committee of the European Parliament eased the requirements for banks compared to a deal reached in October by EU governments. That deal had in turn softened a previous proposal from the European Commission.

The changes adopted by lawmakers will need approval from EU governments before they can be turned into law. (Reporting by Francesco Guarascio; Editing by Kevin Liffey)

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