European Bankers to Meet ECB on Asset Check Update From July 8

Officials from 128 of Europe’s biggest banks will meet staff from the European Central Bank next week for an update on the ongoing review of lenders’ assets.

Chief financial officers and chief risk officers from banks have been invited to meetings in Frankfurt over three days -- July 8, 9 and 10 -- to discuss progress in the Comprehensive Assessment, according to an ECB spokeswoman.

The assessment is an examination of asset quality and crisis-resistance that’s due to finish in October before the ECB takes over financial supervision for the euro area on Nov. 4. ECB President Mario Draghi said at a news conference today that preparations to set up the bank supervisor, known as the Single Supervisory Mechanism, are “proceeding as scheduled.”

Topics on the agenda for the series of talks will include how the ECB plans to disclose the findings of the assessment, as well as outstanding steps in the asset quality review.

To contact the reporters on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net; Sonia Sirletti in Milan at ssirletti@bloomberg.net

To contact the editors responsible for this story: Craig Stirling at cstirling1@bloomberg.net Zoe Schneeweiss, Fergal O’Brien

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