Study of European bank NPLs suggest underreporting and large losses for equity and bond holders

This week's second weekly-length post is just another review of the Price Waterhouse Coopers study that is big news in the German press. I have now seen the numbers in a bit more granular detail and I wanted to run through them for me because a few things need to be put in perspective. The interesting bit is that I haven't seen these numbers reported anywhere in the-English language press. Yet, they are all over the German-language press. My understanding is that this is because the study was one undertaken by the Frankfurt office of PwC.

If you recall, the headline number was 1.05 trillion euros of non-performing loans for the entire European banking sector. Apparently this includes European Union countries and non-EU countries like Russia as well. A number of the figures don't yet mak...


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