Bosses from top euro zone banks were gathering at the European Central Bank on Wednesday to find out what it will be looking for in its upcoming “stress tests” on their balance sheets.
Before the ECB takes up its new role supervising euro zone banks from late next year, it plans to run a series of rigorous tests to uncover any possible shortfalls on the lenders’ balance sheets to avoid any surprises once it has taken charge.
Wednesday’s briefing is the first of three meetings the ECB has set up with the chief executives or chair persons of the bloc’s 128 largest banks at which they will have the opportunity to ask questions about the review it will hold next year.
The meetings will be chaired by ECB President Mario Draghi, his deputy Vitor Constancio and the head of the ECB’s financial stability division, Ignazio Angeloni.
Gerd Haeusler, CEO of German state-owned lender BayernLB BAYLB.UL will be among those attending Wednesday’s meeting.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.