Greek government will extend the current ban on selling NPLs if no agreement is achieved by Feb. 15

The Greek government will extend the current ban on selling non-performing loans (NPLs) if no agreement is achieved with the country’s lenders by Feb. 15, a senior government official said on Monday, the first day of negotiations with the heads of the institutions’ mission in Athens.

Based on a previous agreement, the government had allowed the transfer of NPLs of large businesses, while it had suspended until Feb. 15 the transfer of NPLs which mortgage the main residence, of consumer loans and of small and medium-sized businesses.

The same official said that in the first ongoing meeting between ministers and the institutions the two sides are discussing the time table and agenda of the negotiations. After this meeting, the heads of the lenders’ mission will meet with Alternate Finance Minister Tryfon Alexiadis and the General Secretary for Public Revenues Giorgos Pitsilis.

The first phase of the negotiations is expected to conclude on Friday, when the institutions’ mission will leave Athens and they are expected to return after 7-10 days.