EU to make it easier for banks to sell non-performing loans

It will be easier for banks to sell non-performing loans to third parties, including to so-called vulture funds, under new plans announced by the European Commission.

The plans, revealed yesterday, will reduce the high level of non-performing loans in banks across Europe.

In Ireland, according to the report, 11.2% of all loans are non-performing, a decrease on a year ago.