Scenario of 1.4 trillion euros in NPL’s in Europe after pandemic less likely: ECB’s McCaul to paper

ROME (Reuters) – The European Central Bank’s worst-case scenario of non-performing loans at EU banks reaching 1.4 trillion euros ($1.70 trillion) at the end of pandemic “is less likely to occur”, a member of its Single Supervisory Board told Il Sole 24 Ore.

Elizabeth McCaul also told the paper in an interview published on Tuesday that Italian banks had made “formidable” progress in reducing their impaired loans.

($1 = 0.8239 euros)

(Reporting by Francesca Piscioneri, editing by Agnieszka Flak)