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Italian banks call for harmonization of rules on new NPLs

Published 03/21/2018, 09:14 AM
Updated 03/21/2018, 09:20 AM
© Reuters. Milan's business district skyline is seen from Duomo's Cathedral downtown Milan

MILAN (Reuters) - Italian banking association ABI on Wednesday urged European authorities to harmonize new rules on loans turning sour after the European Central Bank and the EU Commission presented two separate set of rules last week.

The ECB came under fire in Italy when it unveiled a draft proposal on scheduled writedowns of soured loans in late 2017.

© Reuters. Milan's business district skyline is seen from Duomo's Cathedral downtown Milan

ABI acknowledged there had been improvements in a revised version of the document the ECB unveiled last week.

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