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Italian banking body urges harmonization on new bad-loan rules

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Italian banking body urges harmonization on new bad-loan rules

A banking body in Italy has called for harmonization on new rules over nonperforming loans after the European Central Bank and the European Commission presented differing proposals in the week of March 12, Reuters reported.

The Associazione Bancaria Italiana said there had been improvements on the revised rules recently presented by the ECB, according to the March 21 report, which noted that the central bank faced criticism in late 2017 of an earlier proposal on NPL write-downs.

Italy has one of the highest NPL ratios in Europe, at 12.2% as of mid-2017. Cyprus, Greece, Ireland, Slovenia and Portugal also sit on double-digit NPL ratios as of mid-2017.