April 11, 2017 / 3:29 PM / 2 years ago

Most bad loans in Italian banks do not require quick sale - Visco

BRUSSELS, April 11 (Reuters) - Most bad loans held by Italian banks do not need to be sold immediately, the governor of the Bank of Italy said on Tuesday, in a bid to quell pressure on some of the country’s lenders which are saddled by non-soured credit.

“The majority of bad loans are held by banks whose financial position does not require to sell them immediately,” Ignazio Visco told European Union lawmakers at a hearing in Brussels. (Reporting by Francesco Guarascio @fraguarascio; Editing by Alissa de Carbonnel)

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