The European Central Bank has
asked UniCredit to present its strategy to deal with its
non-performing loans by February 28, 2017, the Italian bank's
registration document for a 13-billion-euro capital increase
said on Monday. The bank said that it has signed two separate
agreements, one with Fortress and one with Pimco, to transfer
two portfolios of NPLs to a new entity that it will have a
minority stake in. The transaction regards 17 billion euros in
NPLs.
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