The chairman of the central bank of Greece urged the Greek banks to be more ambitious regarding the Non Performing Loans (NPL).
As is well known the issue of the NPL is one of the prerequisites that must be resolved so as to successfully close the third review by years' end.
The note to the three systemic banks of the nation pertains to the resolvement of the NPL by reducing the bad debts from their balance sheets, and go forward with the sale of those NPL's to foreign funds....
As is well known the issue of the NPL is one of the prerequisites that must be resolved so as to successfully close the third review by years' end.
The note to the three systemic banks of the nation pertains to the resolvement of the NPL by reducing the bad debts from their balance sheets, and go forward with the sale of those NPL's to foreign funds....
The three Greek banks are due to sell by January of 2018 €5.5 billion worh in NPL's and that will result in a total of €7billion or 18% of the target set by the European Central Bank.
According to Reuters these bad loans have already been written off the balance sheets of the banks, and will in no way have an effect on further losses. The biggest challenge concerns those loans with collateral.
Bill T. Alexandratos
