ECB Says Bank Review Will Be More Credible Than Prior Tests

The European Central Bank’s probe into the health of Europe’s banks will be more credible than previous exercises because the institution itself will have to deal with the outcome, the official overseeing the test said.

“Whatever conclusions and the follow-up actions that are indicated will be monitored and checked and enforced by the supervisor,” ECB Director General for Financial Stability, Ignazio Angeloni, said at a press conference in Frankfurt today. The fact that the ECB can combine an asset review and a stress test is “a fundamental strength,” he said.