European body criticises some of ECB’s supervisory methods
ECB rejects audit body’s arguments over supervision of eurozone NPLs and capital levels
The European Central Bank has rejected some criticisms made by an audit of its supervision practices, while accepting others.
The European Court of Auditors (ECA) criticised the ECB supervisory mechanism’s approach to setting banks’ capital requirements, assessing risks and dealing with non-performing loans. The ECA is a European Union institution that has published reports on the bloc’s other organisations since it was established in 1975.
The ECA report, published on May 12, looked in
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