Purpose The unfolding of the financial crisis in parts of Europe has highlighted a number of challenges which can be analysed through the prism of NPLs. These included the discrepancies across supervisory regimes, the limitations of macro-prudential supervision and the diversity of NPL...

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...