BoG to is­sue NPL han­dling per­mits by the end of the year

Kathimerini English - - Focus - EVGENIA TZORTZI

The Bank of Greece will need to is­sue five op­er­at­ing li­censes to non­per­form­ing loan man­age­ment com­pa­nies by the end of the year, ac­cord­ing to the draft re­vi­sion of the bailout agree­ment Greece’s cred­i­tors have given the gov­ern­ment.

The cen­tral bank will also have to re­assess the in­sti­tu­tional frame­work in the NPL mar­ket, propos­ing the nec­es­sary changes that would al­low for the cre­ation of an ef­fi­cient sec­ondary bad-loan man­age­ment mar­ket.

The is­sue of NPLs rank high on the list of in­ter­ven­tions re­quired in the com­ing weeks and months, in­clud­ing the lift­ing of the ob­sta­cles raised to date and the re­vi­sion of the law on the mar­ket. Com­pa­nies seek­ing to en­ter it de­mand that they will be able to buy the loans they man­age as well as be­come ac­tive in the prop­erty mar­ket, con­sid­er­ing the cur­rent le­gal frame­work con­fin­ing them to loan man­age­ment as too re­stric­tive.

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