Those scallywags at Bloomers have gotten hold of the spreadsheet sent to 128 banks coming under the AQR and the ECB wants to know the details of restructured loans as well a performing loans unlikely to be repaid.
We should hope that the ECB go to town in the AQR even if it means the market will take a hit on any bad news from some of the banks. One of the big problems leading up to the crisis was that no one really had a sodding clue what was on the banks books. Many banks are already scuttling around in their dens getting themselves ready for the tests with Spain and Italy particularly keen to to get an A+. In theory it should all lead to greater transparency and oversight as well as a strengthening of the banking industry…in theory
