ECB adviser admits more clarity needed over stress tests
Banks should be given a clearer picture of why their stress test numbers don’t pass muster with the ECB, says Christoph Siebenbrunner of the Austrian Central Bank
More transparency is needed from the European Central Bank (ECB) over why it may sometimes reject the results of banks' stress tests, according to Christoph Siebenbrunner, an economist who worked at the ECB on recent EU-wide stress tests.
The 2014 tests, for which the ECB joined forces with the usual overseer, the European Banking Authority (EBA), aimed to assess banks' resilience mainly in the face of credit and market risk. The central bank's methodological note said banks were invited rather
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