Commissioner Rehn: EU banks will face further stress tests
08 December 2010
The European Union will begin a fresh round of stress tests on its major banks in February, including an increased focus on the immediate access that lenders have to liquid assets, according to media reports.
Olli Rehn, European commissioner for economic and monetary affairs, said late Tuesday that the next round of tests will be more rigorous and will include a liquidity assessment, rather than solely focusing on banks' capital levels, according to the reports.
The European Commission is also pushing for the full results of the tests to be disclosed, the Financial Times reported. A new supervisory agency called the European Banking Authority should be up and running by the time the next tests are conducted and should be able to provide a more rigorous approach to the tests, Rehn said.
© European Commission
