(Visited 49 times, 1 visits today)
(Visited 49 times, 1 visits today)

NPL: the Ministry of Treasury asked for a six-month extension of Gacs

10 May, Italia Oggi

The Ministry of Economy has started the procedure to obtain from the European Commission a six-month extension of Gacs, namely the State guarantee to banks to help them get rid of NPL.

The news was confirmed by the Treasury itself reminding that Gacs had been already extended and will expire in September.

Gacs were created in February 2016 for a maximum duration of 18 months and were extended last September for 12 additional months. They provide a public guarantee on the less risky NPL tranches that banks sell in portfolios through securitisations, making the portfolios more attractive.

Source: Italia Oggi

Translator: Cristina Ambrosi

(Visited 49 times, 1 visits today)

Read more:
Bper, new Gacs for 1.8 billion

15 December, Milano Finanza 2018 will be the year of deleveraging for Bper Banca. The Modena-based group guided by Alessandro...