Souring loans piled up at EU banks in Q2

Loans held by European banks started to spoil in the second quarter, with around €1.51 trillion ($1.78 trillion) said to have deteriorated in credit quality as of June.

Total loans on the balance sheets of European Economic Area (EEA) lenders amounted to €18.4 trillion in June, data from the European Banking Authority (EBA) shows.

Of this amount, 8.2% were designated as stage two assets under IFRS 9 accounting – meaning they’d experienced a significant increase in credit risk since initial

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