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ECB to Quiz Banks on Russia Exposure With Tensions Rising

  • Regulator asking lenders how they’d handle range of scenarios
  • SocGen, UniCredit among EU banks with a presence in Russia
The Kyiv Territorial Defence unit trains in a forest in Kyiv, Ukraine on Jan. 22. 

The Kyiv Territorial Defence unit trains in a forest in Kyiv, Ukraine on Jan. 22. 

Photographer: Sean Gallup/Getty Images

The European Central Bank is asking lenders about their exposure to Russia as it prepares for any fallout should the country invade Ukraine, according to people familiar with the matter.

The ECB, which directly oversees the biggest banks in the euro area, is asking lenders how they would manage different scenarios, including sanctions against Russia, said the people, who asked to remain anonymous as the communication is private. An ECB spokesman declined to comment.