The European Central Bank (ECB) is going to demand that Germany's largest shipping banks - including HSH Nordbank, NordLB and Commerzbank - perform additional impairments of 10-20 percent on loans to shipping, according to the Financial Times.
ECB will in a few weeks - on November 4th - take over supervision of the Eurozone's 130 biggest banks, and the central bank has spent the past seven months performing the so-called stress tests aimed at ensuring that the banks have sufficient capital reserves to withstand financial crises, such as the global financial crisis that erupted in 2008.
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