State NPE scheme to double in size

Kathimerini English Edition | Sep 13, 2019 at 3:21 PM
  • Bad loans worth 30 billion euros are being prepared for transfer to the asset protection scheme (APS) that the Finance Ministry is creating.
  • Speaking to Bloomberg on Thursday, Prime Minister Kyriakos Mitsotakis’ chief economic adviser, Alexis Patelis, confirmed the government’s intention to adopt the Italian model and proceed to the creation of the APS, supplying state collateral for a section of the loans to be transferred.
  • Although he did not state the amount of bad loans that will be included, pointing to the ongoing talks with the DGComp, he spoke of a drastic cut in the banks’ stock of NPEs.