...The ECB's asset quality review (AQR) will improve the comparability of asset quality measures across eurozone banks by applying a simplified version of the European Banking Authority's definition of non-performing loans. We believe it is a sensible compromise to achieve reasonably harmonised metrics within the time constraint. But full implementation of the EBA's guidelines by end-2014 across the EU will make asset quality reporting, and stress tests and analysis based on this data, even more robust. 2...