Brussels, 02/08/2013 (Agence Europe) - The European Central Bank (ECB) will conclude its assessment of bank assets in February 2014, which should mean that the next series of stress tests can be organised in May 2014, explained sources on Thursday 1 August.
The ECB will begin supervising banks in Europe next year and is planning beforehand to analyse the balance sheets of the130 to 140 big banks it will be directly monitoring.
BaFin, the German bank regulation body, and the Bundesbank said on Thursday that the inspections of the banks would be concluded in February and a source says that the bank stress tests, carried out by the European Banking Authority and the ECB, could then start in May. An ECB spokesperson said that the timing had yet to be confirmed and a decision would be taken when the ECB supervisory body had been set up and the surveillance council was in place.
Before the surveillance council can be appointed, the legal system for the Single Supervisory Mechanism needs to be approved by the European Parliament, which is expected to take place on 10 September. (LC/transl.fl)