Rome

Banks vulnerable, urgent action on bad loans - OECD

Oversight authority must study ad-hoc solutions

Banks vulnerable, urgent action on bad loans - OECD

Rome, February 15 - Italian banking institutions have "numerous vulnerabilities" when compared to those of other countries, beginning with their significant number of non-performing loans, according to an OECD report released on Wednesday, which said Italy must urgently take rapid measures to reduce bad loans. It said oversight authorities must define "gradual quantitative objectives, aimed at each bank, that are credible and with precise deadlines" with an incentive system or countermeasures.

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