MILAN, Sept 24 The CEO of UniCredit,
Italy's largest bank by assets, said on Tuesday he expected
European banks to have clear instructions on how the process
towards a banking union will be implemented by mid-October.
"By mid-October there should be precise instructions,"
Federico Ghizzoni told reporters.
He said the asset quality review and the stress tests on
lenders to be conducted by European regulators should be
completed by mid-2014.
Ghizzoni also said he did not expect the European Central
Bank to launch another round of cheap longer-term loans but that
it would instead, if needed, provide liquidity to individual
banks offering adequate collateral.
(Reporting by Silvia Aloisi)