FINANCIAL WATCHDOG SAYS EU BANK STRESS TESTS WERE FLAWED
July 2nd, 2014THE FINANCIAL watchdog of the European Union (EU) – the Court of Auditors – has claimed the 2011 bank stress tests conducted by the European Banking Authority (EBA) were flawed. The regulator failed eight out of 90 banks: five in Spain, two in Greece and one in Austria. But a Court of Auditors report said the EBA “had neither the staff nor the necessary mandate to ensure the reliability of the…exercise.” See http://www.eca.europa.eu/Lists/ECADocuments/SR14_05/SR14_05_EN.pdf
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.