EBA's Enria: stress tests complicated by multi-speed CRR
State-specific timelines and other options are making it difficult to compare test data, EBA chairman tells UK parliamentary committee
The multi-speed implementation of prudential rules in Europe under the Capital Requirements Regulation (CRR) is causing inconsistencies between member states, with each moving at a different pace. That is causing problems for the EU's soon-to-be-published stress tests, according to Andrea Enria, chairman of the European Banking Authority (EBA), which administers the tests.
"In the implementation of the CRR there is a calendar for the phasing in of the new requirements with a lot of discretion
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