Yesterday, the National Bank of Greece bestowed a brand new structure to assist Hellenic banks in non-performing loans.
The framework is part of a new game plan to reconstruct the financial mechanism, after gaining recent banking strides. The executive commission of the National Bank of Greece determined the: "Framework of supervisory obligations for the management of delayed and non-performing loans".
These include reconfiguring household debt, further borrower guarantees, leases and purchasing of property assets, loan selling and/or transferring to a different banking institution, trading mortgage loans for a different loan in a smaller amount and liquidating guarantees, as reported by ANA-MPA. The new Greek banking structure will be implemented on December 31st.