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UPDATE 1-Greece working on plans to help banks tackle bad debt mountain - sources [Reuters]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Reuters
UPDATE 1-Greece working on plans to help banks tackle bad debt mountain - sources | Reuters 3 Min Read * Greece mulls how to wrestle down bank bad loans * Greek banks have heavy exposure to soured debt * Central bank eyes gradual reduction (Adds Greek central bank governor) By Lefteris Papadimas and Renee Maltezou ATHENS, Nov 13 (Reuters) - Greece is working on at least two different plans to provide asset protection to help its banks offload sour loans, bankers and sources close to the matter said on Tuesday. A source close to the consultations said the Greek government had asked JP Morgan to come up with a plan for an asset protection scheme and the Greek central bank also had a plan on how to tackle the banks’ mountain of bad loans. “Both the central bank and the government are looking at initiatives to help banks reduce their non-performing loan portfolios,” the source told Reuters. The JP Morgan plan would not necessarily rival that put forward by the central bank, the source add Show less Read more
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