As part of its communication policy and in order to give guidance to markets and the public at large, the ECB issued a statement in June which explains in detail the objectives and activities of the Eurosystem in this area, especially as regards the execution of its oversight function.
The four systemic banks have agreed with the ECB/SSM ambitious targets for the reduction of NPLs, while the less systemic ones have agreed similar targets with the Bank of Greece. According to these targets, the NPL ratio is expected to fall below 20% until the end of 2021.