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ECB extends one bank test deadline but overall timetable holds 

June 25, 2014
Ralph Orlowski, Reuters

The European Central Bank has pushed out a deadline in its landmark bank tests by a week, but said the extension will not make any difference to the overall timeline of the exercise.

Banking supervision is being centralised under the ECB as part of a broader response to the global financial crisis and the euro debt crisis.

Before the new watchdog - the Single Supervisory Mechanism (SSM) - takes up its task in November, it is putting 128 of the euro zone's largest banks through thorough health checks so banks come to terms with hidden losses and strengthen their capital buffers.

Read More: Reuters

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