ECB’s in-depth review shows banks need to take further action

EU News 430/2014

26 October 2014
European Central Bank
Frankfurt

The European Central Bank (ECB) has today published the results of a thorough year-long examination of the resilience and positions of the 130 largest banks in the euro area as of 31 December 2013.

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The comprehensive assessment—which consisted of the asset quality review (AQR) and a forward-looking stress test of the banks—found a capital shortfall of €25 billion at 25 banks. Twelve of the 25 banks have already covered their capital shortfall by increasing their capital by €15 billion in 2014. Banks with shortfalls must prepare capital plans within two weeks of the announcement of the results. The banks will have up to nine months to cover the capital shortfall.

Source and additional information:
https://www.ecb.europa.eu/press/pr/date/2014/html/pr141026.en.html

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