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).
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.
