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Report: Italian parliament passes NPL, banking-reform legislation

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Report: Italian parliament passes NPL, banking-reform legislation

The Italian parliament passed new rules designed to help thecountry's lenders deal with badloans, Reuters said April 6.

The measures reportedly include the establishment of a scheme,guaranteed by the government, that allows lenders and other financial servicesfirms to offload some of their €200 billion worth of bad loans. Reuters addedthat the loans can now be bundled into securities and sold.

According to the news agency, the new legislation alsocontains plans to launch a holding company for Italy's fragmented creditcooperatives, although those with assets of at least €200 million, or smaller onesthat partner with credit cooperatives of that size, will be allowed to opt outof the holding company.