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The three L3 Committees are: the Committee of European Securities Regulators (CESR); the Committee of European Banking Supervisors (CEBS); and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).
After wavering for much of the morning, stocks moved decidedly higher after the Committee of European Banking Supervisors revealed that only seven of the 91 European banks examined for their ability to withstand financial shocks failed the applied stress tests.
The Committee of European Banking Supervisors said on Friday that seven out of 91 banks failed the closely-watched stress tests, designed to gauge the health of European banks.
The results, to be published on 23 July, were originally to cover only the 26 biggest cross-border banking groups, but the inquiry has now been extended to domestic institutions, including the German landesbanken and the Spanish cajas, the Committee of European Banking Supervisors (CEBS) said in a statement, on 8 July.
The banks - ranging from Germany's Deutsche Bank AG to Malta's Bank of Valletta -- comprise 65 percent of the European banking sector, the Committee of European Banking Supervisors (CEBS) said.
MC) has one of the best test results from the stress tests conducted by the Committee of European Banking Supervisors (CEBS).
He has represented BaFin in several working groups of the Bank for International Settlements (BIS) in Basel, and the Committee of European Banking Supervisors (CEBS).
The banks that failed the stress tests are in close contact with national authorities over how they will raise capital, said the Committee of European Banking Supervisors.
Only seven out of 91 banks failed the closely-watched stress tests, designed to gauge the health of European banks amid debt woes in the eurozone, the Committee of European Banking Supervisors said on Friday.
The Committee of European Banking Supervisors (CEBS) - the London-based umbrella body for Europe's financial regulators - carried out the tests on banks representing 65 per cent of total European banking assets.
The tests, which aim to probe whether banks have enough capital to survive future crises, will be coordinated by the Committee of European Banking Supervisors (CEBS), the London-based advisory body that writes up technical guidelines for national regulators and central banks.
Public Day 1 - Monday, June 4th: Keynote presentations will be given by thought leaders in government and industry including: US Securities and Exchange Commission (US SEC); International Accounting Standards Board (IASB); Committee of European Banking Supervisors (CEBS); International Financial Reporting Interpretations Committee (IFRIC); Bundesanzeiger Verlagesellschaft mbH; DATEV eG; Deutsche Bank AG; XBRL International; XBRL Deutschland e.
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