More NewsCEBS Says European Stress Testing Results to be Kept Secret

CEBS Says European Stress Testing Results to be Kept Secret

The Committee of European Banking Supervisors (CEBS) has said that its next risk assessment, which will be ready by September 2009, will remain confidential.

The CEBS also stated that:

  • Supervisory authorities in the EU are, in the context of their regular risk assessment of the financial sector, carrying out an EU-wide forward looking stress testing exercise on the aggregate banking system.
  • This is not a stress test to identify individual banks that may need recapitalisation, as the assessment of specific institutions’ needs for recapitalisation remains a responsibility of national authorities.
  • The objective is an EU-wide exercise with common guidelines and scenarios, so as to increase the level of aggregate information among policy makers in assessing the European financial system’s potential resilience to shocks and to contribute to the convergence of best practices in the EU.

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