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Who is best placed to determine the CAUSE of your 'bang and swing'?
ECAM. It will tell you if engine has failed. The co-pilot PM only calls engine fail without identifying which one at that stage. Captain PF decides and executes after saying STOP! If Co pilot is PF where he is not permitted to reject then the captain has thrust levers when he sees engine fail he calls STOP and executes. In your airline the co-pilot PF will do so. In any case the co-pilot doesn't call STOP. I will be surprised if it is otherwise. I had two rejects at low speed one in 747 as the thrust was being set engine failure with N1 stuck and over temp and in A300 with co pilots window opening. No one tells you to stop. You do it.