Level 3 assets at eurozone G-Sibs swell to €82bn in 2018
IFRS 9 likely contributor to first increase in Level 3 inventories since 2014
Systemically important eurozone banks reported a 33% rise in hard-to-value assets over 2018, the first such increase in four years.
Figures from the eight lenders’ systemic risk reports show their aggregated Level 3 assets hit €82 billion ($91.9 billion) at end-December 2018, up from €62 billion the year prior.
Crédit Agricole saw the largest increase in euro terms of the eight, with Level 3 assets up €3.6 billion (74%) to €8.4 billion.
ING Bank was a close second, posting a €3.4 billion
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