Europe’s top banking regulator withdrew bad loan warning



July 19, 2021 12:32 PM

The main banking regulator of the European Union said that bankruptcies in the block will not increase as much as previously expected as vaccination efforts advance, rolling back earlier warnings less than two weeks before the latest stress test results.

Jose Manuel Campawho heads the Paris European Banking Authority, said his “main scenario” was now one of “quick recovery” as more and more people get vaccinated. Back in March, he warned of a “significant number” of non-performing loans as government support for borrowers and banks ends.

“Countries believe that bankruptcies …


Source link