Over €50bn worth of non-performing loans (NPLs) still remain on Irish bank books, according to new figures by the European Central Bank (ECB), despite €74bn worth of face-value loans being transferred from Irish banks to the National Asset Management Agency , and a further € 40bn reduction in NPLs in the end of 2013 following the two years . "There are of course some differences but some of those relate to the fact that different countries are in a different places re' the macroeconomic cycle," said Sharon Donnery from Ireland's Central Bank, who chaired the ECB’s working group. The ECB agrees that the scale of NPLs in Ireland "remains high" and noted the "significant time lag" between a solution being agreed and a reduction being recorded. There are also no specific rules in Ireland , the ECB noted, regarding the National Asset Management Agency write-offs.
Over €50bn worth of non-performing loans (NPLs) still remain on Irish bank books, according to new figures by the European Central Bank (ECB), despite €74bn worth of face-value loans being transferred from Irish banks to the National Asset Management Agency , and a further € 40bn reduction in NPLs in the end of 2013 following the two years . The ECB agrees that the scale of NPLs in Ireland "remains high" and noted the "significant time lag" between a solution being agreed and a reduction being recorded. There are also no specific rules in Ireland , the ECB noted, regarding the National Asset Management Agency write-offs.