ECB to conduct comprehensive assessment of four banks in 2016

• ECB Banking Supervision undertaking comprehensive assessment of four banks in 2016
• Banks from Ireland, Italy, Latvia and Slovenia to be assessed
• Results expected in November 2016

All banks that become or are likely to become subject to direct ECB supervision undergo an initial comprehensive assessment by the European Central Bank (ECB), including an asset quality review and a stress test. The ECB regularly conducts such exercises in regard to banks that have recently been classified as significant or that may become significant in accordance with Article 6(4) of Regulation (EU) No 1024/2013.

The banks being assessed in 2016 are:

• Abanka d.d. (Slovenia)
• Akciju sabiedrība “Rietumu Banka” (Latvia)
• Banca Mediolanum S.p.A. (Italy)
• Citibank Europe plc (Ireland)

The exercise started in March 2016 and its results are expected to be published in November 2016. This is a separate exercise from the 2016 EU-wide stress test being coordinated by the European Banking Authority, under which the ECB is assessing a sample of euro area banks.

For media queries, please contact Ronan Sheridan, tel.: +49 69 1344 7416.