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German banks in 2014 European Central Bank review engaged in 'window dressing,' study finds

By Neil Roland ( October 7, 2019, 18:14 GMT | Insight) -- German banks subjected to the 2014 European Central Bank’s risk assessment lowered their risky securities holdings after the audit was announced and started restoring them after the audit was completed, a draft study by US, German and UK researchers found. Twenty-four banks’ “window dressing” took place over a nine-month period during the lead-up to, and conducting of, the largest-ever supervisory review, said Paul Soto, a US Federal Deposit Insurance Corporation economist who is one of four authors of the study. “Banks with a high volume of tradable assets pose significant problems to supervision and financial stability,” Soto told a Washington conference.German banks subjected to the 2014 European Central Bank’s risk assessment lowered their risky securities holdings after the audit was announced and started restoring them after the audit was completed, a draft study by US, German and UK researchers found....

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