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Errors In Data Force Delay In Eu Bank Stress Test

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Errors and "unrealistic assumptions" have forced European Union regulators to quiz banks for a second time in their health check of 90 lenders aimed at restoring investor confidence.

"Arising from the peer review and quality assurance process, the European Banking Authority (EBA) is currently assessing and challenging the first round of results from individual banks," the EU watchdog said in a statement.

"This will mean that another round of data will be required from banks. Errors will have to be rectified and amendments made where there are inconsistencies or unrealistic assumptions."

Data from the second round won't be received until mid to late June -- the time when the EBA had indicated it would publish the results of the test.

Sources familiar with the situation said the EBA now expects publication in early July.

"A date for publication has not been set as the EBA must ensure it is satisfied with the quality of submissions," the EBA said.

Last year's stress test of banks was criticised by analysts for being too soft, as Irish and Portuguese lenders passed but later needed rescuing with massive bailouts.

Hilarious, I wonder what comedy level errors and unrealistic assumptions they made.

Still at least this time we'll know they'll get it right.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
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      • Even
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      • up 5%

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