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Bank of Greece Announces Stress Tests

 The Bank of Greece announced on Monday that Greek banks will be put under an “extreme scenario stress test” by the end of the year.  In an announcement the central bank confirmed that a decision to delay Greek banks’ autumn stress tests was reached during the summer.  This desicion resulted after an agreement with the European Commission, the International Monetary Fund and the European Central Bank.
The reason for the postponement was that Greek authorities had no recent information over the condition of domestic banks, after local financial institutions and European coutnterparts passed an EU stress test in July.
(source: ana-mpa)

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