ECB official: Banks have a window of opportunity

24 April 2012

Banks across Europe should take full advantage of the fact market conditions on the continent have eased in the recent past.

That is according to Christian Noyer, governing council member of the European Central Bank (ECB), who believes policy action implemented by officials over the last few moths represents a "window of opportunity" for institutions to make improvements.

The European situation is also being enhanced by external assistance and it emerged last week that talks between the International Monetary Fund (IMF) and the G20 had resulted in the IMF's lending capacity being lifted by more than $430 billion.

And Mr Noyer - who is also the governor of the Bank of France - insisted that the ECB will follow suit by taking "all necessary measures" to stabilize prices across the region.

With this in mind, he called on lenders to use these favourable conditions to "strengthen their balance sheets" in the near future.

By Gary Cooper

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