Third, promoting multi-creditor workouts. Progress in this respect has been limited. In most cases, definitive solutions cannot be reached without coordinated action by all creditors. Almost all large non-performing business loans involve more than one creditor. Fourth, an intervention to restructure viable businesses. Alongside loan restructuring, it is crucial to enable active initiatives to change uncooperative managements, structures and business plans of corporate debtors.
The repayment of part of the funds obtained via targeted longer-term financing operations (TLTROs) has only marginally lowered them so far. As for the loan book, new non-performing exposures and their stocks remain at low levels.