ECB briefs heads of top euro zone banks ahead of stress tests

Bosses from prime euro zone banks had been gathering on the European Relevant Bank on Wednesday to seek out out what it’s going to be in search of in its upcoming "stress exams" on their balance sheets. Earlier than the ECB takes up its new role supervising euro zone banks from late subsequent year, it plans to run a sequence of rigorous assessments to uncover any that you can think of shortfalls on the lenders' balance sheets to steer clear of any surprises as soon as it has taken cost. Wednesday's briefing is the first of three meetings the ECB has arrange with the chief executives or chair persons of the bloc's 128 biggest banks at which they’ll be able to ask questions in regards to the evaluation it’ll dangle next year. The meetings will probably be chaired by way of ECB President Mario Draghi, his deputy Vitor Constancio and the pinnacle of the ECB's monetary balance division, Ignazio Angeloni.