Italy's Treasury distances itself from proposal on bad loan market

ROME - Italy's Treasury has no plans to adopt measures impacting the country's 307 billion euro bad loan market, a ministry source said on Wednesday, after some ruling lawmakers resubmitted a measure to protect borrowers if they fall behind in repaying bank debts.

Italy's non-performing loan market is the largest in Europe. The way it works is that investors buy bundles of soured loans at a discount from banks which are keen to get them off their balance sheets. The four lawmakers have been trying to relaunch an amendment that had already been rejected in September with the aim of making it easier to apply the initial legislation.

In a bulk sale of credits, the relevant price for the market is that of the overall portfolio, which is an average of the prices of the single loans.

Nederland Laatste Nieuws, Nederland Headlines

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