Thursday, 17 April 2014

Questions (79)

Michael McGrath


79. Deputy Michael McGrath asked the Minister for Finance when he expects the 2014 ECB stress test exercise to commence and be concluded; and if he will make a statement on the matter. [18483/14]

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Written answers (Question to Finance)

As the Deputy is aware, the stress test is one of the three components of the ECB Comprehensive Assessment which is currently underway, the other two components being the Supervisory Risk Assessment and Asset Quality Review. Preparatory work has already commenced on the stress test component and the details of the scenarios are due to be finalised at the end of this month. Work will be ongoing over the coming months with the final results due for publication in October 2014. As I have said on numerous occasions given the very large amount of new capital that has gone into the Irish banking system in recent years and all the work that has been done by our own Central Bank including the recent Balance Sheet Assessment that was completed recently, I do not expect the ECB process to lead to any new capital requirements.