FINANCIAL STABILITY BOARD

July 23, 2010 at 10:52 pm | Posted in Economics, Financial, Globalization, History, Research, World-system | Leave a comment

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Financial Stability Board (FSB)

FSB Chairman welcomes European bank stress

tests

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Fri 7/23/10

The FSB is chaired by Mario Draghi, Governor of the Bank of Italy. Its Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.

Financial Stability Board Chairman Mario Draghi made the following statement today:

“The FSB welcomes the release today of the second EU-wide stress test results. The results provide additional clarity and transparency on the strength of the European banking sector and the 91 major banks that have participated in the exercise.

As the FSB has highlighted in the past, regulatory stress tests are a central part of the process of improving transparency about risk exposures, supporting market functioning and facilitating the repair of bank balance sheets.

By adopting a clear and thorough methodology based on severe scenarios, providing detailed bankby-bank results and announcing, where necessary, remedial actions to strengthen the capital position of individual banks, the EU stress test exercise is an important contribution to bolstering confidence in the European banking system and strengthening the resilience and robustness of the global financial system. The FSB will continue to play its part in strengthening the system by pressing ahead with the key wider regulatory reform agenda.”

Notes to editors

The results and methodology of the EU-wide stress tests, including links to the websites of national authorities that participated in the stress test exercise, can be found on the website of the Committee of European Banking Supervisors at http://www.c-ebs.org.

The FSB has been established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies. It brings together national authorities responsible for financial stability in significant international financial centres, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts.

The FSB is chaired by Mario Draghi, Governor of the Bank of Italy. Its Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.

For further information on the FSB, visit the FSB website, www.financialstabilityboard.org.

FSB E-Mail Alert

fsb@bis.org

Fri 7/23/10

FSB e-mail alert on 23.07.2010 18:20 (GMT)

7 new document(s) found since 26.06.2010.

1. FSB Chairman welcomes European bank stress tests (23.07.2010 13:52) – PDF, 20480 bytes

Press Release

http://www.financialstabilityboard.org/press/pr_100723.pdf

2. Press Release: FSB invites feedback on risk disclosure practices (21.07.2010 09:21) – PDF, 86016 bytes

FSB invites feedback on risk disclosure practices

http://www.financialstabilityboard.org/press/pr_100721.pdf

3. IADI-IMF Update on Unwinding Temporary Deposit Insurance Arrangements (13.07.2010 08:09) – PDF, 405504 bytes

Deposit Insurance

http://www.financialstabilityboard.org/publications/r_1006.pdf

4. FSB releases reports to the G20 (27.06.2010 14:51) – PDF, 76800 bytes

G20 Summit Toronto Jun2010

http://www.financialstabilityboard.org/press/pr_100627.pdf

5. FSB Overview report on progress for G20 Leaders June 2010 (27.06.2010 14:44) – PDF, 80896 bytes

G20 Summit Toronto Jun2010

http://www.financialstabilityboard.org/publications/r_100627c.pdf

6. SIFI – Interim report to G20 Leaders 18 June 2010 (27.06.2010 14:44) – PDF, 40960 bytes

G20 Summit Toronto Jun2010

http://www.financialstabilityboard.org/publications/r_100627b.pdf

7. FSB Chair letter to G20 Leaders 24 Jun 2010.pdf (27.06.2010 14:44) – PDF, 134144 bytes

G20 Summit Toronto Jun2010

http://www.financialstabilityboard.org/publications/r_100627a.pdf
FSB e-mail alert

FSB E-Mail Alert

fsb@bis.org

Fri 7/23/10

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