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ECB Data Demands Called Excessive by Banks Facing Asset Review  

March 18, 2014
Alessandro Speciale and Sonia Sirletti, Bloomberg

Euro-area banks urged the European Central Bank to reduce the information they have to provide as part of a review of their balance sheets because they say the demands are excessive.

European Banking Federation Chief Executive Officer Guido Ravoet wrote to the ECB yesterday, asking it to consider “substantially simplifying” the template for part of the Asset Quality Review. In the letter, which was obtained by Bloomberg News, the EBF also said that some of the data sought is not useful. A spokeswoman for the ECB couldn’t immediately confirm that the letter had been received.

The ECB is conducting a comprehensive assessment of the euro area’s most significant banks before becoming the currency bloc’s single supervisor in November. The assessment includes a probe into whether banks have adequate capital for selected loan portfolios.

Read more: Bloomberg


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