3 Feb 2014
ECB's Constancio: Stress test results will be fully disclosed
FXStreet (Łódź) - ECB Vice President Vítor Constancio said on Monday in Frankfurt that the bank stress test program would be “demanding and very rigorous,” and that the asset quality review and stress test results would be fully disclosed in order to sustain the central bank's credibility.
“We will uphold the reputation of the ECB ... we will not put it at risk. Everything will be disclosed,” Constancio said.
The ECB policymaker declared that the EU financial sector could be repaired only through the asset quality review, which should then boost recovery in 2015. He also assured that there were sufficient backstops in place to deal with the failed financial institutions.
The European Central Bank gave some more details about its asset quality review program this morning in an official release, according to which the "bank-by-bank" selection of portfolios for the AQR would be finalized by mid-February, while the complete methodology should be published during the first quarter of the year.
“We will uphold the reputation of the ECB ... we will not put it at risk. Everything will be disclosed,” Constancio said.
The ECB policymaker declared that the EU financial sector could be repaired only through the asset quality review, which should then boost recovery in 2015. He also assured that there were sufficient backstops in place to deal with the failed financial institutions.
The European Central Bank gave some more details about its asset quality review program this morning in an official release, according to which the "bank-by-bank" selection of portfolios for the AQR would be finalized by mid-February, while the complete methodology should be published during the first quarter of the year.