The European Central Bank (ECB) is scrapping plans to force eurozone banks to report on its database any bad loan worth as little as €100 after a backlash from lenders, it said yesterday.
The new threshold will be €25,000, as it is for all other types of credit.
The change follows a consultation with stakeholders about the creation of the ECB’s eurozone-wide credit database, Anacredit, a project begun in 2011 and with data collection due to start in September 2018, six months later than planned.