Banco Popular

European authorities will prepare by the end of next year enhanced disclosure requirements on bad loans as part of an action plan to tackle the risk of non-performing loans (NPL).

EU economic and finance ministers (Ecofin Council) are expected to adopt today (11 July) a plan to decrease the high level of bad loans held by banks in member states.

The new head of Spain's Banco Popular, Emilio Saracho, is in talks to sell the lender's property portfolio and also a stake to Libra Group, online newspaper El Confidencial reported on Tuesday.

The talks with the Greek conglomerate, which has its origins in shipping, are at an advanced stage, the paper said, citing unidentified sources close to the bank.