The Central Bank of Cyprus (CBC) publishes today updated data relating to the banking system loan arrears resolution targets with reference date 30 June 2017.
The current framework of targets is under revision by the CBC since the main purpose for which they had been set, is no longer fulfilled.
At this stage, the aim is to boost banks’ efforts to reduce their stock of non-performing loans through direct measures, taking into consideration the NPL Guidance of the European Central Bank (ECB) and the banks’ related strategies.
The new framework will be implemented within 2018. To this end, this is the last publication with the existing targets.