BoG finally unveils long-expected proposal to reduce ‘bad debt’ held by Greek banks
The Bank of Greece (BoG) on Thursday unveiled its long-expected proposal to better manage “bad debt” weighing heavily on Greece’s thrice recapitalized banking sector, formally proposing the establishment of a “special purpose vehicle” to transfer a significant chunk of non-performing exposures (NPEs) along with a portion of deferred tax credits (DTCs) already booked on banks’ balance sheets.
The proposal is included in a report entitled “Overview of the Greek Financial System”, itself called a special feature, i.e. “A Systemic Proposal for the Management of NPEs”.
You may be interested
OECD: High taxes in Greece a break on economic growthPanos - Jan 17, 2019
The OECD was the latest international body this week to sound the “warning bells” over the heavy tax rates now…
Two in three Greeks want elections now, nationwide Marc poll showsPanos - Jan 17, 2019
Two in three Greeks said were in favour of general elections immediately, according to a nationwide poll conducted by Marc…