Tests results on Europe's banks out soon
By Jean-Baptiste Vey |
July 5, 2010, Monday
|
Print Edition
Print Edition
THE result of tests designed to show that Europe's banks are able to cope with further economic and other shocks will be published on July 23, French Economy Minister Christine Lagarde said yesterday.
Europe's banking watchdogs have been running the stress tests to boost confidence in the sector as it emerges from the financial crisis to face mounting pressure from tighter capital requirements, extra taxes and additional regulation.
"You will soon be seeing the number of banks that will be submitted to the stress test, you will have better understanding of the exact criteria we apply and of how heavily we stress the system, and then later on July 23, the result of the stress test will be issued," Lagarde said on the sidelines of a conference.
"And you will see that banks in Europe are solid and healthy," she added. Asked about French banks, she said: "I'm not worried about my banks."
Simulated tests carried out by analysts showed KBC, National Bank of Greece, Commerzbank, Credit Agricole and Dexia fared more poorly than big rivals, but without falling to danger levels.
Dexia CEO Pierre Mariani said the bank received details about the tests recently. But he declined to comment on the details of the criteria nor how Dexia might fare.
Europe's banking watchdogs have been running the stress tests to boost confidence in the sector as it emerges from the financial crisis to face mounting pressure from tighter capital requirements, extra taxes and additional regulation.
"You will soon be seeing the number of banks that will be submitted to the stress test, you will have better understanding of the exact criteria we apply and of how heavily we stress the system, and then later on July 23, the result of the stress test will be issued," Lagarde said on the sidelines of a conference.
"And you will see that banks in Europe are solid and healthy," she added. Asked about French banks, she said: "I'm not worried about my banks."
Simulated tests carried out by analysts showed KBC, National Bank of Greece, Commerzbank, Credit Agricole and Dexia fared more poorly than big rivals, but without falling to danger levels.
Dexia CEO Pierre Mariani said the bank received details about the tests recently. But he declined to comment on the details of the criteria nor how Dexia might fare.
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