Support grows for Greece’s NPL plan

Abstract

The Hercules Asset Protection Scheme (HAPS) intends to help banks offload up to 30 billion EUR in non-performing loans (NPLs). “The sector and the Greek government are strongly committed to addressing the weak asset quality issues which are preventing banks from restoring lending and supporting the economy,” said Cristina Torrella, senior director of financial institutions at Fitch Ratings. [...]institutional investors’ appetite for Greek distressed assets remains there, which coupled with the Hercules scheme, should help banks reducing the stock of NPE through securitisations.”