Monday, November 23, 2020

Tag: Why’s the World’s Biggest Asset Manager Advising the ECB on the Health of EU Banks?

Why’s the World’s Biggest Asset Manager Advising the ECB on the Health of EU Banks?

by Wolf Richter, Wolf Street:

BlackRock is “a market power that no state can control anymore.”

The ECB’s latest biannual stress tests are almost over. For months legions of financial regulators have been poking around in the soft financial underbellies of the Eurozone’s 130 largest banks looking for signs of weakness. Presumably, the worst causes or symptoms of financial duress have been largely sidelined or ignored, just as happened in 2016 when Spain’s then-sixth largest bank, Banco Popular, passed muster just months before its collapse.