the insider’s guide

Piraeus Bank close to a new investor on Iris project

After a previous attempt to sell the portfolio to the Czech Republic's APS fell through the management of Piraeus Bank immediately started discussions with Intrum.

Stournaras; a bad bank must be set up quickly. NPEs expected to increase by as much as 11% in 2020

ECB officials, worry that the lock down due to coronavirus pandemic and the subsequent recession will trigger another surge in non-performing loans (NPLs). Bank of Greece reportedly expects NPE ratio to climb by 4%-11% due to Covid-19 crisis.

DBRS Morningstar on opening of Greek NPL servicing market to benefit NPL management

DBRS Morningstar released a commentary titled, “Opening of Greek NPL Servicing Market to Benefit NPL Management”. This commentary focuses on the Greek nonperforming loan (NPL) servicing market and changes that DBRS Morningstar has noticed in the servicing market in Europe.

Debt restructuring model changes, extensions up to three years offered

Short-term loan extensions currently offered to up-to-date borrowers struggling to keep up are currently 6 to 9 months. But new longer extensions will be offered for two, and on many occasions, three years.

Loan servicers change business plans to offset revenue drop

Loan servicers have started discussions with the funds, with the main requirement being the adjustment of fees in combination with recovery objectives, the official said.

ΚEPE, a recession will harm efforts to reduce bad loans

A recession will have a negative impact on the ongoing efforts to reduce NPLs, according to an econometric analysis conducted by KEPE.  (Centre of Planning and Economic Research) .

Porto Carras , a success story in a complicated NPL Market

The 205 million euros  deal had a positive impact in the banking sector as well.

Distressed assets attract fresh funds

Pimco, Oaktree Capital Group and Cerberus gather funds to invest in stress or distressed debt.

New specialized products planned for NPE restructurings

The reduction in revenues from debt being repaid normally, but has now been hit by the downturn, is less, at 30 percent. Under these conditions, banks and loan servicers are immediately adopting new, more specialized, customized products to support their customers.

ECB meets on junk bond collateral rules

President Lagarde drew the line at buying debt directly from euro zone governments and has poured cold water on the notion of "helicopter money" drops for households.

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