All the banks need to take decisive steps to tackle the problem of NPLs: the solutions should be assessed individually. The foundations have now been laid for solving the particularly serious problems of some banks, thanks to the instruments developed and the measures adopted by the authorities.
Not only because “enhancing convergence” is in its mandate, but also because it is in the best position to collect and compare all the different approaches, identify and recommend the best ones, promote their common adoption, while acknowledging differences on aspects that actually merit to be treated differently. To accomplish this task the tools are already there.