Kauppi: ECB’s comprehensive assesment sets the ball rolling on banking union
The bank health results published today shot the starting signal for the euro area banking union, says Piia-Noora Kauppi, Managing Director of the Federation of Finnish Financial Services. The union is scheduled for launch on November 4th. The Comprehensive assessment conducted by the European Central Bank (ECB) confirms that Finnish banks are in good health. In late September, the Finnish Financial Supervisory Authority announced that the Finnish banking sector has strong capital adequacy. The sector’s profitability has improved despite the weak economic situation.