European Central Bank supervisors are often too lenient with banks in how they manage credit risk, especially in the case of the worst performers, the European Court of Auditors said in a report that highlighted a number of shortcomings
The ECB supervises just over a hundred of the euro zone's biggest banks and has long complained that lenders are not taking the risk of soured debt seriously, failing to recognise problems or set aside provisions.
"The ECB did not impose proportionally higher requirements when banks faced higher risks, meaning that risks are not clearly linked to the requirement imposed," the ECA said. The report is the first since the ECB agreed in 2019 to share sensitive bank-specific data for auditing purposes, but its recommendations are non binding.
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