Europe regulator: next bank stress test to focus on Basel III
FRANKFURT Nov 20 (Reuters) - European bank stress tests scheduled for next year will test progress among Europe's lenders toward implementing new capital rules using a common rule book, Andrea Enria, chairman of the European Banking Authority (EBA) said on Tuesday.
"We need to manage a shift of focus from a one-off recapitalization effort to developing the path for full implementation of Basel III standards. We are structuring the stress test of next year along these lines," Enria said.
Because responsibility for supervising European banks is being handed over to the European Central Bank, the EBA was seeking to ensure consistent regulation by working on a common set of supervisory rules, Enria said.
Enria said the EBA was looking at how the array of U.S. banking supervisors approached their task and was developing a common manual to be used by supervisors around Europe. (Reporting By Edward Taylor, Jonathan Gould, Eva Kuehnen)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.