- Treasury and central bank authorities will meet with the country's largest lenders later today, to firm up plans on a fund to tackle bad loans.
- Although the details remain under discussion, it foresees the establishment of a private vehicle that will include upwards of €5B in equity contributions, and a larger debt component.
- The backstop fund will mop up shares in distressed lenders, while a second vehicle will seek to buy non-performing loans at market prices.
- ETFs: EWI, HEWI, DBIT