ECB Touts Lighter Burden on Banks in Planned Underwriting Review

The European Central Bank said it will take a leaner approach to a planned review of credit underwriting at lenders after pledging to reduce the burden of its oversight of the industry.

“Our approach aims to strike a balance between gathering the necessary data to assess and benchmark credit underwriting practices and minimizing the reporting costs for banks,” Sharon Donnery, a member of the ECB’s Supervisory Board, wrote in a blog post on Tuesday.