Tags: EU | France | Stress | Tests

French Official: Stress Tests Will Show EU Banks Healthy

Tuesday, 06 Jul 2010 12:55 PM

 

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France's finance minister says stress tests will show European banks are "solid and healthy."

European Union leaders have promised to disclose the results of "stress tests" designed to show how banks would do if circumstances worsen.

The U.S. published stress tests in 2009 to show how much capital the country's 19 biggest banks needed to raise to cope with more losses.

Finance Minister Christine Lagarde told reporters on Sunday that the European banks that will be subjected to the EU tests and the exact criteria will soon be known.

The results will be published around July 23, she said. She added that she is not "worried" about French banks.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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