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Commission gives go-ahead for APS to reduce NPL pile

The European Commission (EC) announced on Thursday that it approved the Greek plan, codenamed “Hercules,” for helping Greek banks remove up to 30 billion euros in non-performing loans from their books.

Banks highlight areas of concern in talks on NPL scheme

The Finance Ministry has redoubled its efforts to get over the line the Asset Protection Scheme (APS), codenamed Hercules, that is meant to help Greek systemic lenders reduce the stock of NPEs on their books by up to 30 billion euros through state guarantees on securitisations.

Photo by MacroPolis Athens looks to overcome APS snags as it awaits green light from Brussels

Finance Minister Christos Staikouras was due to meet the CEOs of Greece’s four systemic banks on Thursday as the government appears to be stepping up its efforts to secure approval for the Asset Protection Scheme (APS) aimed at reducing the giant pile of NPLs on their balance sheets.

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