The European Central Bank (ECB) is calling for the creation of a private platform for the sale of Non-Performing Loans (NPLs), Reuters reported on Monday.

Euro zone lenders have a portfolio of 800bn in NPLs, concentrated mostly in Italy, but also Greece, Portugal, and Spain. The weights of this portfolio limits the effect of the ECB’s quantitative easing programme.

The ECB advocates a strong incentive policy for the development of a platform and the purchase of NPLs, but does not advocate the creation of a bad bank as in the United States. “It is not necessary, and for governance reasons not even preferable, that the state takes an ownership stake in the platform,” the ECB’s statement reads.