Wall Street Journal
March 10, 2011
Europe's banking supervisor defended its proposals for a new round of bank "stress tests," saying criticism that the scrutiny isn't tough enough is based on "a few points out of context."
The European Banking Authority said Wednesday that the standards and scenarios to be used in this year's stress tests on 88 of the biggest banks in Europe are sufficient to determine if any banks will be forced to raise more capital. The tests are part of efforts to boost confidence in Europe's battered financial system.
"It is a fact that the scenario of the 2011 EU-wide stress test is tough, and more severe than last year," Andrea Enria, chairman of the authority, said in a statement.
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