On Sunday, the International Monetary Fund unveiled the press release containing comments on the results of the assessment of the largest European creditors conducted by the ECB.
The IMF issued the following statement:"The IMF welcomes the successful completion of the ECB’s Comprehensive Assessment of banks in the euro area. The exercise has used a common framework to assess the capital needs of banks and marks the substantial progress that has been achieved towards a banking union. The high level of transparency and comparability of the results will enable market participants to make their own assessments of bank health, which should help boost confidence. Altogether, the exercise provides an important basis for further strengthening bank balance sheets, dealing with weak institutions, and additional lending to support the recovery.”
The IMF expressed its agreement with the ECB that the first step was very important.
