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Many eurozone banks not saving up for Covid sour-loan surge, ECB's Enria warns

By Jack Schickler ( December 3, 2020, 16:22 GMT | Insight) -- A significant tranche of big eurozone banks have failed to provide for the likely surge in sour loans due in the coming months — and supervisors at the European Central Bank are preparing to take them to task. Many of the 120 or so banks under direct EU scrutiny have failed to figure out which of the borrowers surprised by the pandemic might be prove unviable in the long term, instead taking a troubling "wait-and-see approach," Andrea Enria said.A significant tranche of big eurozone banks have failed to provide for the likely surge in sour loans due in the coming months — and supervisors at the European Central Bank are preparing to take them to task. ...

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