IMF recommends Spain take a tougher approach on NPLs

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The Bank of Spain

Spain should tighten up the supervision of its public asset management company, Sareb, and the banking sector to accelerate the reduction in non-performing loans (NPLs), the International Monetary Fund says in its recent assessment of the country’s financial system.

The IMF says the Bank of Spain should set up a tripartite group with the Spanish Treasury and the resolution fund Frob to analyse the need for any amendments to Sareb’s business plans. In the report, published on October 6, the IMF

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