Banks See Stress Tests As ‘Beauty Contests,’ EU Warns
Law360, London (November 27, 2019, 12:08 PM GMT) -- Europe’s lenders could be skewing the data they submit to their national watchdogs after regulatory stress tests because many companies see the exercise as a “beauty contest,” the bloc's banking regulator said Wednesday.
Financial services businesses could be rigging the data that regulators publish after the European Union's biennial tests of resilience in the industry, the European Banking Authority warned. The watchdog fears that banks are reporting that they hold more capital than they actually do to make themselves appear profitable to customers, regulators and rivals.
“The EU-wide stress test is still perceived by many banks as a beauty contest rather...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!