ECB adviser admits more clarity needed over stress tests

Regulators criticised for reticence over why they rejected some test results

Calls for more transparency from ECB

More transparency is needed from the European Central Bank (ECB) over why it may sometimes reject the results of banks' stress tests, according to Christoph Siebenbrunner, an economist who worked at the ECB on recent EU-wide stress tests.

The 2014 tests, for which the ECB joined forces with the usual overseer, the European Banking Authority (EBA), aimed to assess banks' resilience mainly in the face of credit and market risk. The central bank's methodological note said banks were invited rather

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