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FSA: No change for EU bank stress tests
22 July 2010 at 13:18
The Financial Services Authority (FSA) has confirmed that there will be no change to the schedule for the release of EU bank stress tests on Friday afternoon (July 23rd).
According to the regulator, the results of the stress tests for the four UK banks RBS, Lloyds Banking Group, HSBC and Barclays are still due to be released at around 17:00 BST.
Reports earlier today had suggested that European regulators had changed their schedule and intended to publish the results after US markets closed this evening, which would enable European markets to digest the results ahead of the US opening on Friday.
However, the regulator refuted these claims and said the announcement will go ahead as planned, when the information on the four banks will be made public.
Last week, Lord Turner, chairman of the FSA, said European stress tests have an "adequately stressed approach" which will be applied across the continent.
Posted by James Harrison