Turkish Bankers, Officials Discuss Easing Foreign Purchases of Bad Debt

Turkish regulators and bankers are meeting this week to try to hammer out a regulatory tweak that would make it easier for foreign investors to buy some of the tens of billions of dollars worth of soured loans left over from last year’s crisis., Reuters reported. According to five people familiar with the effort, the BDDK banking watchdog and Capital Markets Board aim to draft changes that could remove the last hurdle to Turkish banks selling non-performing loans (NPLs) to hungry foreign buyers. The European Bank for Reconstruction and Development (EBRD) told Reuters it is hosting workshops in Istanbul this week for bankers and regulators to help identify what needs to be done to get closer to finally resolving the lingering NPL problem. Read more