BOV chief meets ECB president over future monitoring rules

Chief executive officers from banks from five countries - Germany, Belgium, Cyprus, Malta and Luxembourg - have met European Central Bank president Mario Draghi and other ECB board members at ECB headquarters.

The list included Europe's largest investment bank by revenue, Deutsche Bank AG, and lenders such as Bank of Valletta.

The ECB began a three-stage probe this month into the balance sheets of eurozone lenders in a taster of its more intensive financial supervision role.

The executives also met Vice-President Vitor Constancio and board member Yves Mersch, both of whom are responsible for setting up the ECB's bank supervisor, the spokeswoman said.

The ECB's three-stage process is called the Comprehensive Assessment, beginning with an operation to identify portfolios requiring deeper scrutiny, followed by an examination known as the Asset Quality Review. Following those are stress tests simulating the effect of a range of adverse scenarios.

Further group meetings are planned for Nov. 18 and Nov. 25. The Nov. 18 round will include bankers from Estonia, Spain, Finland, France, Greece and Ireland. Executives from banks in Italy, Latvia, the Netherlands, Portugal, Slovenia, Slovakia and Austria will travel to the ECB on Nov. 25.