September 15, 2017 / 10:36 AM / a month ago

Greek banks don't need asset quality review now: ECB

TALLINN (Reuters) - There is no need to conduct an asset quality review at Greek banks as a broader European Union-wide stress test is already being planned for 2018, European Central Bank Executive Board member Benoit Coeure said on Friday.

Benoit Coeure, executive board member of the European Central Bank (ECB), speaks during a conference in Brussels, Belgium March 28, 2017. REUTERS/Yves Herman

“The (Single Supervisory Mechanism) made it clear they don’t see a need for an (asset quality review) given what’s planned: a stress test, which will come in 2018 as part of the broader EU exercise which is led by the European Banking Authority,” Coeure told a news conference.

Coeure added that only the ECB, the supervisor of four biggest Greek banks, could require such a review.

The comments come after Greek newspaper Kathimerini reported that the International Monetary Fund was considering making such an asset quality check part of the Greek bailout review.

Reporting by Balazs Koranyi; Editing by Alison Williams

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