EU banking watchdog proposes ‘less prescriptive’ stress tests

London — Stress testing of banks in the European Union to check their ability to withstand market shocks without taxpayer help should be eased to cut bank costs, the EU’s banking regulator proposed on Wednesday.

Stress testing became a regular exercise in the US and Europe after the global financial crisis a decade ago when taxpayers had to bail out undercapitalised lenders. EBA said it was time to take stock, and in a discussion paper for public consultation, it proposed two parts to the same test. In the first, the EBA would test the need for any additional capital at specific banks. The second would be conducted by banks themselves.

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