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WorldDecember 2 2013

German banks smarten their appearance ahead of ECB review

German banks will want to look as good as possible for the European Central Bank’s asset quality review, especially in light of the country’s hard line during various sovereign debt and banking crises in the wider eurozone. 
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German banks smarten their appearance ahead of ECB review

As the European Central Bank (ECB) gets started with its asset quality review of eurozone banks, German banks are assessing what year-end tidying they need to do for the December 31 balance sheet date, which will be the basis for the ECB examination.

The ECB is aiming to complete its asset quality review in the fourth quarter of 2014 in time to begin its single supervisory mechanism role in November. But individual banks and their national regulators do not have to wait until they are handed the results of the comprehensive assessment, and already have one eye on the upcoming review. Of Germany’s 128 banks, 24 will be directly supervised by the ECB, more than in any other country, which is understandable given the size of its economy and banking system.

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