The Central Bank, as the National Competent Authority and as part of the Single Supervisory Mechanism (SSM), continues to require banks to reduce NPLs in a sustainable way. The stock of NPLs held by the retail banks has declined by € (c.79 percent) since the 2013 peak.
Multiple tools have been used to enable this reduction, including: re-engaging with borrowers; restructures; accounting write downs; engaging through the Insolvency Service; loan sales; loan securitisations; and seeking resolution through the courts.