March 12, 2020 / 1:03 PM / 18 days ago

EU watchdog delays banks stress test to 2021 on coronavirus

LONDON, March 12 (Reuters) - The European Union’s banking watchdog said it has postponed this year’s stress test of lenders until next year so that banks can focus on their businesses during the coronavirus epidemic.

The European Banking Authority said the postponement of the stress test will allow banks to prioritise continuity in core operations, including support for customers.

“For 2020, the EBA will carry out an additional EU-wide transparency exercise in order to provide updated information on banks’ exposures and asset quality to market participants,” EBA said in a statement. (Reporting by Huw Jones Editing by Rachel Armstrong)

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