ECB revamps its annual health checks on banks

By Jerry  Published On May 29, 2024
FRANKFURT, May 28 (Reuters) – The European Central Bank is streamlining its health checks on the euro zone’s banks, allowing it to train its focus on pressing lapses and get tough on laggards.
The central bank’s supervisory chief, Claudia Buch, said while the revamp would make its annual checks less cumbersome, it would also make greater use of powers to penalise and force changes.
The ECB checks on the financial health of around a hundred of the bloc’s biggest lenders, but has often complained that banks are slow in making vital changes, whether to their technology or risk management.
Source: REUTER

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