Little support for banking book tests: EU official
Most regulators finalizing Europe's next banking health checks oppose testing a lender's longer term banking book for sovereign debt shocks, a top European Commission official said on Thursday.
Elemer Tertak, director of the European Union executive's banking and financial markets department, told Reuters the bulk of officials involved in discussions that took place on Wednesday favored sticking to last year's methodology of only testing shorter term trading books.
"The discussion was whether to limit just to the trading book or to be larger. The majority as I understood from the feedback I received was rather ... just the trading book. But I'm not saying that this is the final word," Tertak said on the sidelines of a Euromoney conference.
[Source: By Marc Jones, Reuters, 03Mar11]
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