Press release on the CEBS's stress tests exercise
23.07.2010
In December 2009 the ECOFIN of the European Council has mandated the Committee of European Banking Supervisors (CEBS) to conduct in cooperation with the European Central Bank, the European Commission and the EU national supervisory authorities an EU-wide stress tests exercise in a bid to assess the resilience of the banking system to possible adverse economic developments.
In its meeting on June 17, 2010 the European Council underlined the importance of resilience and transparency of the banking sector, concluding that the results of the ongoing stress tests would be published by CEBS. Under the EU-wide stress test exercise, aggregated by CEBS, European banks may participate if they cover at least 50 percent of the respective national banking sector as expressed in terms of total assets.
In this context, the exercise was applied to 91 European banks from 20 member states that represent 65 percent of the total assets of the EU banking sector as a whole.
Given the above-mentioned conditions, it is worth noting that Romania has not conducted this exercise. However, 19 out of the total 91 participating banks operate on the Romanian market (16 subsidiaries and three branches representing 72 percent of the total assets in the Romanian banking assets).
The results and details of the EU-wide stress test exercise are available on CEBS website: http://www.c-ebs.org/.
More details on the CEBS press release.