2023-07-22 22:05:20
Yesterday, the European Central Bank announced its intention to monitor liquidity more frequently in eurozone banks, to reduce the risk of future financial crises.
Andrea Enrea, head of the Prudential Supervision Board, the European Central Bank’s body to supervise banks in Europe, said, “We decided to ask banks, starting next September, to send information to us on a weekly basis, with the aim of obtaining more data that allows us to better supervise liquidity developments.”
The data includes details such as cash accruals in bank accounts, their counterparties, and refinancing of transactions with the European Central Bank. The initiative comes after the bankruptcy of banks in the United States last March, and the forcible acquisition of Credit Suisse by UBS, which raised fears of a global financial crisis.
1690077604
#European #Central #Bank #tightens #monitoring #bank #liquidity