February 3, 2014 / 12:31 PM / in 4 years

Bank backstops "are enough" for ECB checks - Constancio

FRANKFURT, Feb 3 (Reuters) - The backstops in place to deal with euro zone banks that fail a European Central Bank health check of the sector are sufficient, ECB Vice-President Vitor Constancio said on Monday.

“The backstops are there, (they) are enough,” Constancio told reporters at a news conference to give an update on the ECB’s plan to check that top euro zone banks have the risks on their balance sheets under control.

The ECB takes up responsibility for supervising euro zone banks from November. (Writing by Paul Carrel; Editing by Jon Boyle)

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