2nd Oct 2023

France's Lagarde: Bank stress test results out 23 July

The results of ongoing tests on European banks to ascertain their viability will be published on 23 July, French finance minister Christine Lagarde has said.

Speaking at a conference on Sunday (4 July) in Aix-en-Provence, France, Ms Lagarde said the results would show the region's banking sector to be in good condition.

Read and decide

Join EUobserver today

Become an expert on Europe

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

  • Chritine Lagarde is confident the results will be largely positive (Photo: Adam Tinworth)

"Around 23 July, the results of the stress tests will be published," she told journalists on the sidelines of the 'Rencontres Economiques' conference in the southern French city.

"You will see that banks in Europe are solid and healthy," added the centre-right politician.

Faced with pressure from the United States and market doubts over the solidity of European banks, EU leaders last month agreed to publish the stress test results after initial reluctance from a number of states including Germany.

But a Spanish push to have the results published led a number of national capitals to perform a series of dramatic u-turns, with Madrid convinced the new data will help dispel negative speculation regarding Spain's banking sector.

The Spanish government has been plagued by a steady trickle of media reports suggesting it is on the verge of applying to the eurozone's €750 billion emergency support mechanism, adding to investor unrest and higher government borrowing costs.

Initial plans to test between 20 and 30 banks were broadened recently, with the results later this month set to show the ability of around 100 of the continent's largest banks to withstand future financial shocks.

Concerns that the banks may be over-exposed to sovereign bonds from countries such as Greece, Portugal and Spain have contributed to investors' doubts.

These bonds have lost considerable value in recent months, with tighter EU regulation, a potential bank levy and an ongoing credit shortage also among the litany of pressures faced by Europe's financial firms.

European policy makers have urged banks to prepare for the publication of results by increasing their capital levels, much in the same way as US firms did last year before similar test results were published.

IEA says: Go green now, save €11 trillion later

The International Energy Agency finds that the clean energy investment needed to stay below 1.5 degrees Celsius warming saves $12 trillion [€11.3 trillion] in fuel expenditure — and creates double the amount of jobs lost in fossil fuel-related industries.


How do you make embarrassing EU documents 'disappear'?

The EU Commission's new magic formula for avoiding scrutiny is simple. You declare the documents in question to be "short-lived correspondence for a preliminary exchange of views" and thus exempt them from being logged in the official inventory.

Latest News

  1. EU women promised new dawn under anti-violence pact
  2. Three steps EU can take to halt Azerbaijan's mafia-style bullying
  3. Punish Belarus too for aiding Putin's Ukraine war
  4. Added-value for Russia diamond ban, as G7 and EU prepare sanctions
  5. EU states to agree on asylum crisis bill, say EU officials
  6. Poland's culture of fear after three years of abortion 'ban'
  7. Time for a reset: EU regional funding needs overhauling
  8. Germany tightens police checks on Czech and Polish border

Stakeholders' Highlights

  1. Nordic Council of MinistersThe Nordic Region is stepping up its efforts to reduce food waste
  2. International Medical Devices Regulators Forum (IMDRF)Join regulators, industry & healthcare experts at the 24th IMDRF session, September 25-26, Berlin. Register by 20 Sept to join in person or online.
  3. UNOPSUNOPS begins works under EU-funded project to repair schools in Ukraine
  4. Georgia Ministry of Foreign AffairsGeorgia effectively prevents sanctions evasion against Russia – confirm EU, UK, USA
  5. International Medical Devices Regulators Forum (IMDRF)Join regulators & industry experts at the 24th IMDRF session- Berlin September 25-26. Register early for discounted hotel rates
  6. Nordic Council of MinistersGlobal interest in the new Nordic Nutrition Recommendations – here are the speakers for the launch

Join EUobserver

Support quality EU news

Join us