ECB Summons Bankers for Catch-Up as Stress Test Looms
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Europe’s lenders are running out of time to get their books in order before the European Central Bank passes judgment on them.
As executives from 128 banks meet in Frankfurt this week with some of the officials examining them, managers of the ECB’s Comprehensive Assessment are working out a mid-October date for final disclosure and guiding lenders through a conclusive stress test. Meanwhile institutions including Erste Group Bank AG are stepping up efforts to take the sting out of the outcome by acknowledging losses, while lenders such as Banco Comercial Portugues SA are raising fresh capital.