European Banking Authority will not run stress tests in 2015

Milan

THE European Banking Authority (EBA) will not run stress tests to gauge whether European banks can withstand shocks this year, it said on Tuesday, acknowledging the progress made by lenders in beefing up their finances.

"Instead of a stress test, in 2015, EBA will be running a transparency exercise in line with the one conducted in 2013," it said in a statement on its website. The banking watchdog added that the transparency exercise would provide detailed data on the balance sheets and portfolios of European lenders.