The European Central Bank's supervisory board is prioritizing the reduction of the bad loans held by banks in the eurozone and expediting preparations for a no-deal Brexit scenario, Reuters reported, citing Andrea Enria, the board's chair.
The board will particularly follow up on its guidance on nonperforming loans and on recommendations stemming from its targeted review of internal models, Enria told the European Parliament's committee on economic affairs.
Enria also urged banks to speed up the implementation of their Brexit plans, saying they should be fully prepared should a hard Brexit materialize at the end of October.
