Portuguese Government has presented a solution for NPL to banks
The ministry of Finance and the Bank of Portugal have presented an offer to the three Portuguese banks with the highest level of NPL. It is now up to financial institutions to analyse the solution.
The Government has presented an offer for NPL to the three Portuguese banks with most non-performing loans. Financial institutions will now analyse the solution presented by the Finance ministry and the Bank of Portugal. The Government awaits contributions for this action.
António Costa disclosed, on the fortnightly debate, that this Monday a meeting was held “between the Finance ministry, the Bank of Portugal and the three largest banks in Portugal with the highest amount of NPL in order to present a solution banks will analyse and evaluate”.
The Portuguese PM had already disclosed the solution for NPLs would not be to create a “bad bank”. António Costa also highlighted he has been working on a vehicle that allows banks to find a solution for these defaulted loans — a burden which must quickly be reduced, highlighted Carlos Costa, Governor of the Bank of Portugal.
