Swiss regulators will on Friday attempt to steal the thunder of long-awaited European Union stress tests for banks by publishing the results of an exercise Swiss bankers say was “twice as tough” as the EU scenario.
Swiss regulators will on Friday attempt to steal the thunder of long-awaited European Union stress tests for banks by publishing the results of an exercise Swiss bankers say was “twice as tough” as the EU scenario.
The tactic, which is expected to give a clean bill of health to both Credit Suisse and UBS, coincides with the publication on Friday evening of a four-month-long exercise to stress test the biggest banks across the EU.
In spite of market scepticism about the toughness of the EU tests, European regulators are confident that the parameters – governing areas from sovereign debt exposure to broader credit risks – will come as a pleasant surprise to the markets.
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The EU results are due to be released in a series of staggered announcements from the Committee of European Banking Supervisors, national regulators and the 91 banks themselves starting at 5pm London time.
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