FRANKFURT, Germany (AP) — The European Central Bank says a continent-wide stress test shows banks are more resilient against financial panics than they were in the last set of tests two years ago.

The ECB says 33 big banks it supervises came through a simulated recession and market crash and were left with thicker financial buffers compared with a similar test in 2016. Their core equity tier 1 ratios — a key measure of financial strength — averaged 9.9 percent, up from 8.8 percent two years ago, when the recession scenario was not as tough.

This year's nightmare scenario envisaged a 2.7 percent drop in gross domestic product over three years, plus a ferocious bear market in stocks and plunging home values.

The tests feed into regulatory reviews that could result in weaker banks being asked by the ECB to strengthen their finances.