BRUSSELS, March 15 (Reuters) - The European Commission said on Thursday that European Central Bank guidelines on banks’ bad debt were “compatible” with rules proposed on Wednesday by the EU executive to tackle lenders’ future build-ups of non-performing loans.
“The ECB’s approach is compatible with what the Commission proposed yesterday,” a spokeswoman said in a statement to Reuters.
“Both initiatives are also complementary: the backstop proposed by the Commission sets minimum requirements for all banks, whereas the ECB’s addendum determines how the ECB would assess the specific situation of each bank as regards NPLs.” (Reporting by Francesco Guarascio Editing by Alastair Macdonald)
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