BoG plan for SPV to offload portion of Greek banks' NPLs requires 6 months; approval by SSM, DG Comp, ECB

A plan by the Bank of Greece to deal with tens of billions of euros worth of "bad loans" burdening Greek banks' balance sheets, by creating a special purpose vehicle to manage a portion of the NPLs, will reportedly take at least six months and is, of course, dependent upon the approval of the SSM, DG Comp and the European Central Bank (ECB).
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