EBA announces new EU-wide stress tests

The European Banking Authority (EBA) is to conduct EU-wide stress tests in the first half of 2011. The EBA, which replaces the Committee of European Banking Supervisors (CEBS) and came into being on January 1 2011, said that the results of the tests would be published in the middle of the year and would cover a “broadly similar group of banks as last year”. Some 91 banks were tested last year.