ECB’s Visco: ready to use all available instruments
Bank of Italy Governor and ECB Board Member Ignazio Visco (pictured) said on Friday that the uncertainty that is keeping Italian bond yields high, can be removed only through long-term economic policies.
He noted coronavirus resulted in an unprecedented crisis and that in order to protect the stability of the banking system “it will be necessary to evaluate the use of tools that act preventively for banks that put in a serious situation, even if presumably temporary, difficulties.”
“The increase in non-performing loans will have to be addressed in time, making use of all possible instruments, including those for the restructuring of loans and their sale on the market,” he added.
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