Question for written answer E-005674/2021
to the Commission
Rule 138
Lídia Pereira (PPE), Maria da Graça Carvalho (PPE)
Subject: OECD proposal for the management of non-performing loans in Portugal
The Organisation for Economic Co-operation and Development (OECD) recently published its 2021 Economic Survey(1) for Portugal. In this survey, the OECD suggests that an asset management company be created to respond to the risks of a significant increase in the level of non-performing loans in Portuguese banks, following the end of the moratorium period.
The creation of such a structure raises significant questions linked to compliance with European competition rules, since the use of public funds would need to be assessed in the light of European legislation on State aid. The Bank Recovery and Resolution Directive(2) would also have to be considered.
Irrespective of whether such a company is created, it is clear that Portugal should consider a more structured approach to secondary markets for non-performing loans.
Nevertheless, considering the OECD proposal and the example of other Member States with similar structures, we would like to ask the Commission:
1. What is your assessment of the OECD proposal for Portugal?
2. How do you classify the risks associated with the level of non-performing loans in the balance sheets of Portuguese banks?
Supporter(3)
(1) https://www.oecd-ilibrary.org/economics/oecd-economic-surveys-portugal_19990405
(2) https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014L0059
(3) This question is supported by a Member other than the authors: Cláudia Monteiro de Aguiar (PPE)