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The European Court of Auditors (Photo: European Court of Auditors)

ECB too lax in supervising credit risk, auditors find

European Central Bank supervisors are too lax in supervising how they manage credit risk, the EU Court of Auditors said on Friday (12 May).

The auditor has long criticised the ECB for insufficiently pushing the just over 100 banks — 82 percent of the total — it supervises to reduce bad loans. Friday's report now suggests the problem is more profound than previously thought.

One of the problems highlighted in the deta...

Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

The European Court of Auditors (Photo: European Court of Auditors)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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