Other aspects that need to be addressed include (i) the lack of a modern legal framework for enabling timely out-of-court settlement, (ii) challenges related to both the corporate and the household insolvency system, and (iii) factors – such as the taxation regime or the accounting framework – that can also discourage NPL resolution. The focus of the Guidance is on workout.
One in three of the roughly 60,000 ATMs in Germany have already been replaced with such upgraded devices. In the retail sector, more and more automated points of sale and back office systems are being deployed – for example, systems which can portion paid-in banknotes in store.