 "Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting in Tokyo. (Photo: Reuters)")
The International Monetary Fund strongly supports the European Central Bank's recent proposal to increase provision requirements for new non-performing loans, IMF European Department chief Poul Thomsen said on Friday.
The ECB recently proposed requiring lenders to increase loan loss provisions on newly classified non-performing, unsecured loans to 100 percent over two years. For secured loans, provisions would need to rise to 100 percent over seven years.
