The European Central Bank (ECB) won’t find cause for concern over German banks when it carries out rigorous stress tests of European lenders, according to the president of the country’s banking regulator.
“I wouldn’t have any specific concern for the German banks with this asset quality review,” Elke Koenig, the president of BaFin told CNBC Friday.
“You have to see also that the banks have already taken precautions.Last year and during this year you could see that they added to their provisions. So I think what is good news for me is all the banks (at least that’s my impression) have understood that the asset quality review will be a serious exercise and they have tried to get ready for it in being prepared.”
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