It has been agreed with the External Partners that, as part of the Financial Measures Programme (FMP), PCAR 2012 results will ideally be published in coordination with EBA and in any event no later than end-November 2012. In preparation for PCAR 2012 the Central Bank has also agreed to conduct detailed preparatory work including: an asset quality review of Irish banks' portfolios using an independent advisor; bank data verification to ensure consistency; a review of income and loan impairment recognition practices; and, an engagement with the banks on their loan portfolio resolution strategies and systems.
This timeline allows for the completion of this detailed preparatory work, whilst seeking to maintain the distinctive rigor and standards of PCAR 2011.