The European Central Bank (ECB) has published a comprehensive stress test manual which covers both parts of the comprehensive assessment of banks deemed significant under the single supervisory mechanism. The two parts of the ECB’s comprehensive assessment are:
- a systematic and centrally-led quality assurance of the stress test outcomes produced by the banks; and
- a join up of the asset quality review (AQR) and stress test outcomes.
The manual sets out in detail how the stress test quality assurance process will be carried out and then describes the methodology for combining the results of the AQR and the stress test. The methodologies for the AQR and the stress test are specified in separate publications, which together with the manual, form a complete methodology and process manual for the quantitative component of the comprehensive assessment.
The ECB will publish the final results from the comprehensive assessment in the second half of October 2014.
View Comprehensive assessment stress test manual, 8 August 2014
View ECB publishes Comprehensive Assessment Stress Test Manual, 8 August 2014