Level 3 assets at eurozone G-Sibs swell to €82bn in 2018

IFRS 9 likely contributor to first increase in Level 3 inventories since 2014

Systemically important eurozone banks reported a 33% rise in hard-to-value assets over 2018, the first such increase in four years.

Figures from the eight lenders’ systemic risk reports show their aggregated Level 3 assets hit €82 billion ($91.9 billion) at end-December 2018, up from €62 billion the year prior.

Crédit Agricole saw the largest increase in euro terms of the eight, with Level 3