Enria takes aim at eurozone banks’ sovereign exposures
New ECB supervision chair floats Pillar 2 concentration charge, criticises use of IFRS 9
The European Central Bank’s new chair of its single supervisory mechanism, Andrea Enria, has said he will look to curb eurozone banks’ concentration of exposures to the debt of their home governments.
“The last time I saw the figures there were some banks that had more than 10 times the amount of their Tier 1 capital [exposed] to the domestic sovereign,” said Enria, speaking at a hearing of the European Parliament in Brussels on March 21. “Excessive concentration is indeed an issue which we
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