The ECB Chairman announced yesterday that the SSM may decide to conduct stress tests for Greek banks earlier in 2018 than originally planned, in an effort to address IMF’s concerns on Greek banks.
According to bank officials the stress tests may reportedly be carried out in February.
A source told Reuters that the test could be finalised in early May to ensure there would be plenty of time before the end of the bailout in August to recapitalize banks, in case the exercise uncover any capital shortfall.
The International Monetary Fund has been pushing for a fresh asset quality check at Greek banks, possibly as part of a bailout review that is slated to begin soon, a suggestion the ECB, which supervises top Greek banks, has firmly rejected.
But ECB President Mario Draghi, speaking to members of the European Parliament, argued on Monday that the ECB is willing to exercise some flexibility with its timeline.
“The SSM (Single Supervisory Mechanism) will take its decision with full independence,” Draghi noted.
“What the SSM plans to do next year is to have a stress test, possibly frontloading the stress test, and basically the SSM sent a letter to the IMF concerning exactly this expected line of action,” he added.
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Source: capital.gr
