ECB to assess Croatian banks in euro membership prep

Croatia could join the eurozone by 2024

Euro symbol, Willy Brandt Platz, Frankfurt

The European Central Bank will undertake a comprehensive assessment of some of Croatia’s biggest banks in preparation for the country’s planned future membership of the eurozone.

The ECB said it would conduct asset quality reviews and stress tests on five Croatian banks after Croatia formally requested the establishment of close cooperation with the ECB in May.

The supervision of banks is one of the steps Croatia must take to enter the European Exchange Rate Mechanism (ERM II). ERM II ensures

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