Tags: EU | Europe | Financial | Crisis

EU: Detailed Stress Tests to Be Released in August

Tuesday, 13 Jul 2010 08:51 AM

The European Union will only publish a general health check on banks on July 23 and will wait another two weeks before making public more details on how 91 banks would fare if the economy worsens.

The bank stress tests are closely watched by markets worried that European governments could face extra costs for rescuing troubled banks as they struggle with mounting debt and slow economic growth.

Belgian Finance Minister Didier Reynders said EU finance ministers agreed at Monday talks that banking supervisors needed more time to prepare details on on individual banks, which would be published in early August.

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