Thomson ReutersMarch 2, 2014 01:47
FRANKFURT (Reuters) - The European Central Bank (ECB) is set to become the euro zone's single bank supervisor from November.
Before then, it wants to complete several checks on the banks it will watch over directly, appoint a supervisory board for the new institution and hire at least 1,000 staff.
The main part is the so-called comprehensive assessment, which includes a backward-looking asset quality review and a forward-looking stress test of banks' balance sheets. All the results will be condensed and published in October.