The Irish Banking Federation (IBF) announced yesterday the details of a new Protocol to collectively assess cases of multi-banked SME debt. The new scheme will allow SME borrowers with loans up to €10m to enter in to collective negotiations with banks to agree a debt restructuring. The main Irish banks (ACC Bank, AIB, BoI, Danske Bank, KBC, ptsb and Ulster) have all agreed to participate. The participating institutions still retain the right to act unilaterally in line with existing contractual agreements. <p><h5>Ciaran Callaghan</h5>
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