ECB requests weekly liquidity data from banks to monitor their well-being – Enria.

MILAN (Reuters) – ⁤The European Central Bank (ECB) to Introduce Weekly Liquidity Data Reporting

In an effort to better monitor banks’ ability to withstand potential shocks as interest rates rise, the ECB supervisory chief, Andrea Enria, announced that starting in September, banks will be required to provide weekly liquidity data. This move comes as financial markets‍ remain in a “delicate phase” due to factors such as the ​Ukrainian⁣ war, ‌higher inflation, and fast-rising interest rates.

Enria ⁢emphasized that these factors can increase liquidity and funding risks, making it crucial for the ECB to closely monitor these developments. The request for weekly information will provide fresher data for‌ the ECB’s stress tests and other supervisory processes.

Currently, banks are only required to provide liquidity‍ information on a monthly basis.

The upcoming bank stress‌ test results, set to be unveiled in ‌the next few days, are expected to demonstrate that⁤ European lenders are better equipped ‌to face potential financial crises. Enria stated that these​ results will show higher⁣ capital levels and more solid and reliable assets.

Enria also ⁤commented on⁣ the ‌need for‍ further consolidation in the ‍Italian banking sector, suggesting⁤ that there ⁢is ‍room for a third major banking group alongside UniCredit​ and Intesa Sanpaolo.

(Reporting by Francesca⁢ Landini;‍ editing by Clelia Oziel)

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