ECB Prepares Bank Stress Test Info Session

November 13, 2013 Share Print 0

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.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.