Banca Carige placed into temporary administration

Category: NPLs ABS

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NPL disposals 'could be accelerated'

Banca Carige has been placed into temporary administration by the European Central Bank (ECB) following the resignation of the majority of Banca Carige’s board members. The decision is unlikely to negatively impact Banca Carige’s non-performing loan (NPL) securitisation programme and could actually expedite its NPL disposal plans.

The ECB states that, following the board member resignations, it became necessary to install temporary administration to “steer the bank in order to stabilise its governance and pursue effective solutions for ensuring sustainable stability and compliance.”

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