ECB’s Nouy expects Spanish banks to meet capital demands – paper

The European Central Bank’s chief supervisor expects Spanish banks to meet their capital requirements and the remaining demands set by the ECB under so-called Pillar II rules, she said in an interview published on Monday.

“I do expect Spanish banks to be able to meet Pillar II requirements, and at the same time comply with the Pillar II guidance, whether they are qualitative or quantitative,” Danièle Nouy, chair of the ECB’s supervisory board, told Spanish paper Expansión.

She added Spanish banks “have been more successful than others in reducing operating costs and achieving a good balance between costs and revenue, setting them up for improved profitability in coming years.”

The interview was carried out on 27 September, the ECB said on its website.
Source: Reuters (Reporting by Francesco Canepa; Editing by Matthew Mpoke Bigg)