FMA and OeNB welcome European initiatives for quicker addressing of non-performing loans
(World News Austria)

The Austrian Financial Market Authority (FMA) and the Oesterreichische Nationalbank (OeNB) welcome the joint initiative of the European Commission and Single Supervisory Mechanism (SSM) to take preventive measures against a renewed increase in levels of non-performing loans in Europe. The initiatives focus on the more rapid and resolute handling of non-performing loans and thereby also enable more new business. `The Global Financial Crisis has shown the credit quality of banks is primarily decisive during periods of upturn. We must not let up in light of the currently positive development, since the granting of...