Protecting European bank test data from lucrative leaks

LONDON/FRANKFURT (Reuters) - It would be an insider trader's dream to know ahead of time which of Europe's banks will fail or need more capital, and all that data will be stored somewhere in cyberspace as the European Central Bank assesses the euro zone's top banks. The chances of a leak are multiplied by the thousands of consultants who will work on data for the ECB's Comprehensive Assessment of the currency bloc's most important 128 banks, which include household names like Deutsche Bank and Santander along with national champions Bank of Cyprus and Bank of Valletta. "It (data security) is of enormous concern," said Dan Keeble, a London-based partner at Deloitte, which is working on part of the ECB's assessment, an Asset Quality Review (AQR) for the euro zone's 13 largest banks and some smaller ones. "Aside from the fact that much of the information required to conduct the AQR is commercially sensitive to individual banks, details of the conclusions regarding the AQR have the potential to be market influencing, and could damage financial stability."

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