ECB scraps obligation on banks to report bad loans as low as 100 euros

The European Central Bank (ECB) is scrapping plans to force euro zone banks to report on its database any bad loan worth as little as 100 euros ($112) after a backlash from lenders, it said on Friday.

The new threshold will be 25,000 euros, as it is for all other types of credit.

The change follows a consultation with stakeholders about the creation of the ECB's euro zone-wide credit database, Anacredit, a project begun in 2011 and with data collection due to start in September 2018, six months later than planned.