“The Italian experience in reducing NPLs, above all through use of the GACS state guarantee, and later in reducing UTPs has attracted very wide interest among the main European institutions and regulators. It can also be a valid solution for other EU countries.” Francesco Uggenti, Head of Business Development at Prelios Innovation, was speaking at the “European Loan Transaction Platforms: Current Developments, Regulation, Market Prospects” panel organized by the Frankfurt School of Finance & Management – Germany's leading business school – as part of NPL Forum 2020, an NPL event for the entire DACH area.
“A significant increase in distressed loans is also expected in Germany and Austria. In this unprecedented post-pandemic period, we have to respond with solutions of proven effectiveness,” Uggenti continued. “This is why BlinkS, the Prelios NPL trading platform launched just over a year ago has attracted the attention not only of European regulators like the ECB and the EBA, but also of a number of German and Austrian banks, who have expressed their willingness to immediately begin assessing its introduction.”
Francesco Uggenti was speaking at a debate attended by representatives from the leading German banks and European Union regulators, including Stefan Fromme, Managing Partner vc trade GmbH; Gonzalo Gasós, Senior Director Prudential Policy and Supervision, The European Banking Federation (EBF); Klaus Greger, Head of Group Operations Credit, Commerzbank AG; Edward J. O’Brien, Adviser, Directorate General Macroprudential Policy and Financial Stability, European Central Bank; Timur Peters, CEO Debitos GmbH. The debate was chaired by Prof. Dr. Christoph Schalast from the Frankfurt School of Finance & Management.