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Greece · Economy & Business · Hard

What is the name of Greece's systemic risk assessment tool, introduced under the third bailout, requiring banks to set aside capital buffers for non-performing loans?

The Hercules Asset Protection Scheme (HAPS), launched in 2019, was the Greek state-guaranteed plan to help banks securitize and offload non-performing loans, reducing NPE ratios from over 45% to single digits.

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