ECB Waters Down 2014 Stress Tests Second Time; Yet Another Sham Stress Test
MishTalk
JANUARY 16, 2014
We want the exercise to encompass all the main sources of risk. However, we will penalize banking exposure to bonds contained in the trading book, i.e., those that are available for immediate sale." Banks do need to fail to prove the credibility of the exercise. What About Sovereign Bonds? One would think so.
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