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A Strategy for Resolving Europe's Problem Loans

Author

Listed:
  • Mr. Shekhar Aiyar
  • Mr. Wolfgang Bergthaler
  • Jose M Garrido
  • Ms. Anna Ilyina
  • Andreas Jobst
  • Mr. Kenneth H Kang
  • Dmitriy Kovtun
  • Ms. Yan Liu
  • Mr. Dermot Monaghan
  • Ms. Marina Moretti

Abstract

Europe’s banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorities and banks to examine the structural obstacles that discourage banks from addressing their problem loans. A three pillared strategy is advocated to remedy the situation, comprising: (i) tightened supervisory policies, (ii) insolvency reforms, and (iii) the development of distressed debt markets.

Suggested Citation

  • Mr. Shekhar Aiyar & Mr. Wolfgang Bergthaler & Jose M Garrido & Ms. Anna Ilyina & Andreas Jobst & Mr. Kenneth H Kang & Dmitriy Kovtun & Ms. Yan Liu & Mr. Dermot Monaghan & Ms. Marina Moretti, 2015. "A Strategy for Resolving Europe's Problem Loans," IMF Staff Discussion Notes 2015/019, International Monetary Fund.
    • Handle: RePEc:imf:imfsdn:2015/019
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