New bills seek stronger tools to deal with bad debts

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New bills seek stronger tools to deal with bad...
 © CyprusMail 2022
Lawmakers on Monday began reviewing three government bills which would give credit acquiring companies (CACs) enhanced access to debtors’ financial data, affording the financial industry more tools to deal with delinquent borrowers.

Speaking in parliament, the head of the finance ministry’s Directorate of Financial Stability said that the bills aim to regulate the emergence of a secondary market in the sale of loans, seen as an effective means of helping banks deleverage.

Avgi Chrysostomou-Lapathioti also highlighted the fact that currently almost half – 46 per cent – of...


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Article automatically added to our system on Monday, September 27, 2021

New bills seek stronger tools to deal with bad debts


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Article Tags: #bills   #stronger   #tools   #debts  


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