ECB could bring forward stress tests for banks

According to ECB boss Mario Draghi, the 2018 health check for financial institutions could take place earlier than previously expected.

According to ECB head Mario Draghi, the European Central Bank (ECB) may prefer its stress test for banks next year. "The SSM (Unified Banking Supervisory Mechanism) will make its decision completely independently," said Draghi on Monday to members of the European Parliament. The SSM is planning the health check of the financial centres for 2018.

However, it is possible that this will take place more quickly than expected in the coming year. The ECB has so far rejected the call for an earlier audit. Draghi's words, however, suggest that the ECB could deal with the date somewhat more flexibly.

The International Monetary Fund (IMF) is pressing for a check on the Greek banks - probably as part of the forthcoming review of the debt-prone Euro-land in the context of the billions of substantial rescue loans. Since autumn 2014, the Euro bank has been responsible for overseeing the largest banks in the currency area. It now controls 126 institutions directly, including Deutsche Bank and Commerzbank.

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