European Union:
European Central Bank To Undertake Comprehensive Assessment Of Large Banks In Advance Of The Single Supervisory Mechanism
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In a press release dated October 23, the ECB announced that it
will undertake a comprehensive assessment of large banks prior to
assuming full responsibility for supervision as part of the
SSM.
The assessment will include a risk assessment, an asset quality
review and a stress test to examine the banks' balance
sheet's resilience. The assessment will start in November 2013
and will be completed in 12 months, in collaboration with the
relevant national competent authorities.
The UK Prime Minister stated that the UK will not participate in
the SSM. Press Release.
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