Half of the euro zone's biggest banks wouldn't survive a six-month cas...
FILE PHOTO: A man walks towards the European Central Bank headquarters in Frankfurt, Germany, July 25, 2019. REUTERS/Ralph Orlowski
The ECB’s test of 103 lenders laid bare some weak spots in the euro zone’s banking system at a time of growing fears about an upcoming recession and upheaval in the U.S. money market. “Universal banks and global systemically important banks would generally be affected more severely than others by idiosyncratic liquidity shocks as they typically rely on less stable funding sources,” the ECB said in a press release.
It added the results were “broadly positive”, noting that current rules only required banks to have enough liquid assets to survive 30 days.
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