European Commission and Directorate-General for Financial Stability, Financial Services and Capital Markets Union 18 January 2018, COMMISSION STAFF WORKING DOCUMENT Accompanying the document COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN CENTRAL BANK First Progress Report on the Reduction of Non-Performing Loans in Europe

EUROPEAN COMMISSION Brussels, 18.1.2018 SWD(2018) 33 final COMMISSION STAFF WORKING DOCUMENT Accompanying the document COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN CENTRAL BANK First Progress Report on the Reduction of Non-Performing Loans in Europe {COM(2018) 37 final} COMMISSION STAFF WORKING DOCUMENT Accompanying the document COMMUNICATION FROM THE