ECB’s Asmussen details 'comprehensive assessment' of European banks

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Jörg Asmussen, a European Central Bank (ECB) executive board member, has revealed new details of the "comprehensive assessment of banks" to be conducted by European authorities next year.

The ECB will conduct an initial asset quality review and balance sheet assessment in the first quarter of 2014, which will then "feed into" an overall stress test conducted by the European Banking Authority – in cooperation with the ECB – in the second quarter.

Asmussen said: "This assessment is essential to

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