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Four-fifths of their loans are non-performing.
Both now have repayment agreements for some of their loans.
Most of their loans are managed by firms called servicers.
Banks and other financial institutions have increasingly realized the necessity to measure and manage the credit risk of their loans.
Meanwhile, bad debts have risen at state-run banks: 10-12% of their loans are dud.
Conservative estimates suggest that by the end of last year 20% of their loans were bad.
Debtors might normally dread deflation, which increases the real value of their loans.
They may instead grow more cautious, especially if repayment of their loans looks doubtful.
Facing higher interest rates, Italian firms paid back 10% of their loans in the past year.
Up north, Canadian banks hold more than two-thirds of their loans.
And we got rid of their loans, which were about $9,000.
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