FRANKFURT, June 21 (Reuters) – The European Central Bank is taking a hard look at lenders’ ship financing portfolios amid a broad deterioration in the shipping market, keeping banks on edge about the potential need for more capital and higher loss provisions, five people familiar with the situation said.
The ECB’s banking supervisor sent an email at the end of last week asking a raft of European banks for details of their shipping loans and the status of their loan loss provisions as an “initial step” in a broader review of lending in the sector, one of the sources quoted the email as saying.
“It is a very extensive request,” the source told Reuters.
The ECB declined comment. (Additional reporting by Frank Siebelt in Frankfurt and Jonathan Saul in London, Writing by Jonathan Gould; Editing by Edward Taylor)
(Bloomberg) — Ukraine’s fight against Russia’s invasion has entered a new phase, pitting homegrown drone technology against a 2,000 kilometer (1,200 mile) swathe of largely Soviet-era oil facilities. At least...
March 19 (Reuters) – Tanker company Euronav will exit Belgium’s blue-chip Bel-20 index after just two days of trading, as it no longer meets the membership conditions after its takeover by Compagnie Maritime...
MOSCOW, March 19 (Reuters) – The new head of Russia’s Navy was formally presented in his new role for the first time on Tuesday at a pomp-filled ceremony, the state RIA news agency reported,...
March 19, 2024
Total Views: 2487
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.