EU Watchdog Names Banks, Main Criteria For Bank Stress Tests

7th Jul 2010 19:19

BRUSSELS (Dow Jones)--Europe's banking supervisor late Wednesday named the 91 banks that it will test for resilience to further market and credit risks and laid out the key features included in the tests. The Committee of European Banking Supervisors said banks being tested represent 65% of the EU banking sector and at least 50% of national banking sector in terms of assets. The adverse scenario assumes a three-percentage-point decline in GDP from European Commission forecasts for 2010 and 2011, and tests for resilience to sovereign risk at a level beyond the market conditions experienced in early May 2010. -By Carolyn Henson, Dow Jones Newswires; +32 2 741 1481; [email protected] (END) Dow Jones Newswires July 07, 2010 14:19 ET (18:19 GMT)