EU does not favour public stress tests for banks -Austria

LUXEMBOURG, June 8 (BestGrowthStock) – European Union finance
ministers do not plan to publicise the results of stress tests
on individual banks, Austria’s finance minister said on Tuesday.

U.S. Treasury Secretary Timothy Geithner has suggested as
much transparency as possible should be provided on the ability
of banks to withstand liquidity problems, but Austria’s Josef
Proell said a breakdown of individual banks’ so-called
stress-test results was not being considered.

“We find transparency of stress tests positive but at the
moment are not considering it for individual banks but rather
for the sector overall,” he said after a meeting of EU finance
ministers in Luxembourg.

“That means yes to stress tests, yes to the publication of
the general state of things, but I do not see it as necessary to
put individual banks on display.”

Proell said there were differences of opinion among EU
finance ministers on the issue at the meeting, which was also
attended by IMF Managing Director Dominique Strauss-Kahn.

Stock Market Money
(Reporting by Brian Rohan)

EU does not favour public stress tests for banks -Austria