November 7, 2013 / 5:22 PM / in 4 years

EBA's Enria "very confident" of meeting bank stress tests deadline

STOCKHOLM, Nov 7 (Reuters) - The chairman of the European Banking Authority, Andrea Enria, said on Thursday he was “very confident” of meeting the end 2014 deadline for the next round of stress tests on Europe’s banks.

“We are good at keeping deadlines,” Enria told reporters in Stockholm. Some supervisory sources have previously criticised the deadline as too tight since the European Central Bank must first complete its review of eurozone banks’ balance sheets.

Banks across the EU still don’t know when they will get key details that will enable them to prepare the large amounts of data they will have to provide for the stress tests, which are billed as the most comprehensive ever assessment of Europe’s banks.

“I realize that’s a point the banks want to have answers on,” Enria said. “I can’t give that now. Once we have the methodology then we can have a clear timeline.”

The amount of capital banks will have to raise as a result of the tests will largely depend on the “stressed scenario” - or the adverse conditions banks would be tested against.

Enria said that scenario has not yet been decided and will be defined “much closer to the stress tests”.

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