The results of Europe’s most comprehensive review of banks’ health will be released on Oct. 26, the European Central Bank and the European Banking Authority said on Friday, which will give the clearest picture yet of the state of the sector.
The ECB hopes the tests will banish fears about the health of European banks, which were pummeled during the financial crisis, and restore investor trust and revive lending to euro zone households and companies – a key to getting economic recovery back on track.
While the ECB is putting the euro zone’s 130 largest banks through a backward-looking asset quality review and forward-looking stress test, the EBA will also run stress tests on banks in Britain and some other non-euro countries.
British banks face an additional test to their resilience to withstand a sharp drop in housing prices and the Bank of England said the result of this additional test will be published on Dec. 16.
Reuters already reported in September, citing sources at the time, that the results will be released on Sunday, Oct. 26.
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