March 20, 2017 / 9:29 AM / 4 months ago

ECB wants "ambitious and realistic" push to cut unpaid bank loans

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FILE PHOTO: The signature of President of the European Central Bank (ECB) Mario Draghi is written upon an outsized specimen new 20 Euro banknote at the ECB headquarters in Frankfurt February 24, 2015.Ralph Orlowski/File Photo

FRANKFURT (Reuters) - The European Central Bank expects euro zone banks with high levels of unpaid loans to submit "ambitious and realistic" plans to bring them down, it said on Monday, as it published guidelines on non-performing loans (NPL).

"These plans should be ambitious and realistic," the euro zone's top bank supervisor said on its website after seeking industry feedback on the guidelines.

"Regarding enhanced disclosures on NPLs, to ensure consistency and comparability the guidance should be implemented from the 2018 reference dates onwards."

Reporting By Francesco Canepa

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