New cap hikes and NPL backstop fund another step in the right direction, albeit small
New cap hikes & NPL backstop fund set up
Private asset manager Quaestio announced the set-up of a fund subscribed by financial institutions and foundations, without mention of size, and with a mandate to buy shares in banks which need equity, and also invest in the junior tranches of NPL securitizations, following the government scheme created earlier this year to ease bad loans sales. The government welcomed this initiative and unveiled the project of another decree within a few days, aimed at further speeding up collateral recovery of bad debts.