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CEBS statement on EU stress testing exercise

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CEBS logoThe Committee of European Banking Supervisors (CEBS) today publishes its statement on stress testing exercise

http://www.c-ebs.org/News--Communications/Latest-news/CEBS-statement-on-stress-testing-exercise.aspx

In truth, CEBS was rather forced into this announcement yesterday by REUTERS reporting (correctly) that European Ministers of Finance had agreed to Commissioner McCreevy's insistence at ECOFIN last week that the process of Stress Testing Europe's top 25 banks was one to be "got on with". The REUTERS report is here; http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE54B2VR20090512

CEBS doesn't say very much about what the Stress Tests in Europe will amount to, except that there will be no results until September and they will be confidential. All a bit of a damp squib, no need to frighten the horses, right?

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