European banks face ‘bottleneck’ to complete EBA stress test
New accounting rules and supervisor demands squeeze teams prepping for 2018’s exercise
Lenders across the European Union are struggling with this year’s region-wide stress test as they adjust to new global accounting standards and regulators’ demands for clean and comprehensive data.
“We are just a few people: the credit risk part in the stress test is run by four internal staff and two consultants,” says a senior stress-testing specialist at a mid-sized European bank. “We are not usually staffed for such big changes so it is quite a bottleneck.”
On January 31, the European
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