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In January 2022, Dinesh Khara, the Chairman of the State Bank of India announced that the National Asset Reconstruction Company (“NARCL”) has received all approvals to commence its operations. NARCL is what is colloquially known as a bad bank, formed to acquire illiquid and risky assets, such as bad debt, from distressed financial institutions. NARCL

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In a push to tackle Greek’s bad debt exposure, the Greek Parliament has approved a new asset purchase scheme nicknamed ‘Hercules’. The scheme aims to assist Greek banks deleverage their non-performing loans (NPLs) without the need for the government to step in with subsidies.

Under the scheme, banks will sell non-performing loans to a special purpose vehicle, which will use proceeds from the issuance of tranched notes to market investors to purchase the loans. The Greek government will provide a public guarantee for the senior notes in the securitisation vehicle at a market rate.
Continue Reading Greek’s bad debt exposure – Hercules to the rescue!

S Caldwell blog - 12.08.15Eight years on from the credit crisis, the drive to rehabilitate securitisation continues.

The most recent body to speak up for the increasingly regulated structures is the European Banking Authority, which last month published an Opinion and an accompanying Report on the establishment of a European framework for qualifying securitisations for the purposes of determining