Clarification statement by Andrea Enria, EBA Chairperson, following his address at FRSN conference in Berlin

The EBA released a clarification statement following Andrea Enria's address at the FRSN conference in Berlin on 'The Comprehensive Assessment, the ECB's New Role and Limits of a Common Supervision in the EU'.

"Significant progress has been achieved in strengthening banks' capital positions and identifying possible sources of risk. The Comprehensive Assessment and the EU-wide stress test have further dispelled uncertainty on asset valuation and contributed to identifying remaining vulnerabilities which are being addressed by Competent Authorities.

Looking at a longer term perspective, there is still work to be done, particularly for ensuring a smooth pathway towards full implementation of CRR/CRD IV, preparing for the incoming BRRD provisions, and restoring confidence in internal models".