The European Central Bank said nine euro-area lenders, including units of two Russian banks, will undergo a Comprehensive Assessment of their balance sheets in 2015.
Belgium’s Banque Degroof SA, Agence Francaise de Developpement, J.P. Morgan Bank Luxembourg SA, Malta’s Mediterranean Bank plc, Sberbank Europe AG, VTB Bank (Austria) AG, Unicredit Banka Slovenija dd, and Finland’s Kuntarahoitus Oyj (Municipality Finance Plc) will take the test, the ECB said in a decision published on its website. Portugal’s Novo Banco, which emerged from the breakup of Banco Espirito Santo SA, will be subject to a stress test.
The Frankfurt-based ECB, which became the supervisor of around 120 of the region’s largest lenders in November, carried out an unprecedented review of the assets of those institutions in 2014. The banks to be reviewed this year will be subject to the test as they are likely to be judged “significant” and therefore fall under the ECB’s remit.
“Banks have been informed and will work closely with the ECB over the coming months with a view to completing the exercise by end of 2015,” the ECB said in an e-mailed statement. “The methodology used for the assessments will be same as that used for the assessments undertaken on the 130 institutions involved in the 2014 exercise.”