The results of Europe’s most comprehensive ever review of its banks’ health will be announced on Sunday, Oct. 26, sources told Reuters.
The sources all spoke on the condition of anonymity as the date has not yet been publicly disclosed. An announcement is expected soon.
The tests will reveal whether around 130 of Europe’s largest banks need to raise more capital for losses they have already incurred and future crises.
The tests are designed to finally banish fears about the health of Europe’s banks, whose valuation has lagged behind US peers since the region’s debt crisis struck. link.reuters.com/buf36v
The results must be published before the European Central Bank becomes the euro zone’s banking supervisor on Nov. 4.
Banks will be given their results about 48 hours before publication, to enable them to review the figures and prepare any response.
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