Bank stress test results to be released 1600 GMT Friday

19th July 2010, Comments 0 comments

Results of European bank "stress tests," designed to assess a lender's capacity to withstand economic or financial upheaval, will be released Friday at 1600 GMT, the Committee of European Banking Supervisors (CEBS) said Monday.

The committee, charged by the European Commission to oversee publication of the tests, will release overall results on its website,, accompanied by commentary.

Results for individual banks will be released separately by the institutions themselves, also starting at 1600 GMT.

The CEBS, around 1630 GMT, will publish a resume of the individual results on its website, followed by a press conference at its London headquarters at 1700 GMT.

The results, to be made available following the close of European stock exchanges, are eagerly awaited by markets and financial analysts in hopes they will allay concerns about the solvency of the European banking sector.

Of the 91 banks to be tested, only a handful are seen as failing the tests, with the CEBS disclosing their need to raise fresh capital.

© 2010 AFP

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