In January 2018 the European Commission presented its first progress report on the Action Plan to tackle non-performing loans (NPLs) in Europe, which Finance Ministers agreed on in July 2017. The progress report, which takes the form of a communication and an accompanying staff working document, highlights recent developments of NPLs both in the EU as a whole and within individual EU countries. It shows that the positive trend of falling NPL ratios and growing coverage ratios has solidified and continued into the second half of 2017. The report also provides an update on the Commission's ongoing work to deliver on the elements of the action plan for which it has direct responsibility.

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