15 Jul 2011

EU bank stress tests due

1:52 pm on 15 July 2011

The European Banking Authority is due to publish the results of stress tests of 90 banks across Europe on Friday.

The tests are designed as a financial healthcheck and aim to ensure banks have sufficient capital to withstand difficult economic scenarios.

However, Standard & Poor's has suggested the tests could have been more severe.

The BBC reports that changes have been made after only seven out of 91 banks failed last year.

The results are expected to be published at 1600 GMT.