The European Central Bank is set to take center stage as the euro area’s chief banking supervisor, after the European Banking Authority ditched this year’s stress test in favor of an ECB-led review of lenders’ asset quality.
The London-based EBA, set up in 2011 to harmonize rules across the European Union, delayed stress tests until 2014 as the ECB’s asset check goes ahead to “help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe,” the agency said a statement yesterday.
http://www.bloomberg.com/news/2013-05-16/eu-bank-stress-tests-delay-makes-way-for-ecb-supervision-plan.htm
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The London-based EBA, set up in 2011 to harmonize rules across the European Union, delayed stress tests until 2014 as the ECB’s asset check goes ahead to “help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe,” the agency said a statement yesterday.
http://www.bloomberg.com/news/2013-05-16/eu-bank-stress-tests-delay-makes-way-for-ecb-supervision-plan.htm
l
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