Financial Services Financial Services

EU banks' internal-model manipulation under scrutiny for hiding Covid impact

By Jack Schickler
  • 28 Jan 2021 06:47
  • 28 Jan 2021 06:47

Eurozone banks will be probed for suspected manipulation of internal models used to measure Covid-19 default risks, as the European Central Bank warned the bloc’s unsustainably weak lenders to shed staff and shift online. 

Supervisors were alerted last month after dozens of major lenders appeared to be predicting no major rise

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