March 21, 2018 / 1:14 PM / 4 months ago

Italian banks call for harmonization of rules on new NPLs

MILAN (Reuters) - Italian banking association ABI on Wednesday urged European authorities to harmonize new rules on loans turning sour after the European Central Bank and the EU Commission presented two separate set of rules last week.

Milan's business district skyline is seen from Duomo's Cathedral downtown Milan, Italy , January 13, 2016. REUTERS/Stefano Rellandini

The ECB came under fire in Italy when it unveiled a draft proposal on scheduled writedowns of soured loans in late 2017.

ABI acknowledged there had been improvements in a revised version of the document the ECB unveiled last week.

Reporting by Gianluca Semeraro, writing by Valentina Za, editing by Francesca Landini

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