The Italian minister of the economy, Pier Carlo Padoan, has criticised the approach agreed upon for the treatment of non-performing loans (NPL) by the ECB acting as single banking supervisor within Banking Union in the Eurozone.
In our view, the addendum to the guidelines on banks' provisioning of NPL goes beyond the limits set out by the single supervisory mechanism, as it anticipates a general limit in the management of NPL, even though it should concern only individual cases, bank by...