Daily Archives: June 4, 2012

Ralph Atkins

The European Central Bank has rejected a call by a top watchdog for a “chief risk officer” to monitor the vast expansion of its financial exposures resulting from the eurozone debt crisis.

In a report released on Monday, the European Court of Auditors argued a risk officer could help prevent demarcation lines within the ECB obscuring a complete picture of possible problems and ensure a “comprehensive view” was taken.

Its conclusions were eye-catching because of the risks involved in the ECB’s massive support for the eurozone’s banking system, which have seen its balance sheet balloon to around €3 trillion. Read more