Deleveraging fears overdone, says EBA chairman
Enria defends EBA's 9% capital buffer in New York speech
Bank deleveraging in Europe has not become "excessive or disorderly", with much of the focus so far on ditching riskier assets, rather than reining-in lending, according to Andrea Enria, chairman of the European Banking Authority (EBA).
"Strong pressure for deleveraging emerged in Europe during the final quarter of 2011, with the freeze of the markets for medium- and long-term bank funding. While this has been a source of concern, at this stage, there is no evidence the deleveraging process has
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