ECB to disclose results of comprehensive assessment of banks on Sunday 26 October
The European Central Bank (ECB) will disclose the results of its comprehensive assessment of banks on Sunday 26 October 2014, at 1.00 pm Finnish time. The results will consist of a press release, an aggregate report and individual bank-by-bank findings that will be disclosed on standardised templates. Immediately after the ECB’s disclosure, the Financial Supervisory Authority (FIN-FSA) will publish a press release dealing with the situation of those Finnish banks that were included in the assessment.
The Finnish banks subject to the Comprehensive Assessment (CA) are OP-Pohjola Group, Nordea Bank Finland Group and Danske Bank Plc Group.
A total of 130 euro area banks are covered by the ECB-led Comprehensive Assessment. The Comprehensive Assessment comprises an Asset Quality Review (AQR) and a stress test. As regards the Finnish banks, the Comprehensive Assessment was largely carried out by FIN-FSA. The Assessment was undertaken as a risk-based review of the balance sheets of the banks that are due to come under direct ECB supervision. The Asset Quality Review and stress test results will be used to determine banks' potential need for additional capital.
The Asset Quality Review was based on data as at 31 December 2013. The stress test projections extended until the end of 2016. In addition, individual bank-level data will be reported on changes taken place by 30 September 2014 in the bank's capital position.
The ECB will publish its press release first in English, followed by versions in other EU languages.
For further information, please contact
- Jyri Helenius, Head of Department, tel. +358 10 831 5312