EU bad loans plan refined

The ECB’s new rules forcing lenders to set aside more cash for loans that go unpaid may come into force on April 1, three months later than originally planned, the ECB’s chief supervisor Daniele Nouy said.

Heavy criticism from southern nations forced the ECB to rethink its proposal and while no fundamental change in the proposal is likely, the ECB is expected to refine its text to fend off criticism.