January 7, 2019 / 1:02 PM / 8 months ago

ECB's De Guindos urges build-up of banks' macro buffers

FILE PHOTO: Vice-President of the European Central Bank Luis de Guindos attends a news conference following the governing council's interest rate decision at the ECB headquarters in Frankfurt, Germany July 26, 2018. REUTERS/Kai Pfaffenbach

RIGA (Reuters) - European regulators should require banks to build up their buffers against possible economic and financial stress, the European Central Bank’s vice-president Luis de Guindos said on Monday.

“In my view, the current economic and financial conditions call for more action by macroprudential authorities to enhance the resilience of the banking sector and ensure the system has buffers in place that can be released in times of stress,” he told an event in Riga.

Reporting By Gederts Gelzis; Writing by Francesco Canepa in Frankfurt

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