January 15, 2019 / 9:31 AM / a month ago

ECB to give euro zone banks deadline for full coverage of bad loans: source

The skyline with its financial district and the headquarters of the European Central Bank (ECB) are photographed in the early evening in Frankfurt, Germany, December 4, 2018. REUTERS/Kai Pfaffenbach

(Reuters) - All the banks under the European Central Bank’s oversight will receive a target date by when they will have to fully cover their stock of impaired loans, a source familiar with the situation said on Tuesday.

The target date will be over the medium term and differ from lender to lender, the source said.

Writing by Francesca Landini, editing by Silvia Aloisi

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