Resolute action to address investor perceptions of sustained weakness in the EU banking sector is an important part of the comprehensive response to the crisis, as endorsed by the European Council. In this context, the objective of the EU-wide stress test carried out across 91 banks for the period 2011-2012 is to assess the resilience of the EU banking system to adverse shocks.
It should be noted that the stress test, which is a regular element of the supervisory toolkit, is not a forecast. The purpose of the stress test is to provide a means to assess the resilience of participating banks to solvency pressures under a plausible but unlikely scenario of stress. In this way, the test results provide a measure of whether banks are sufficiently capitalised to weather adverse economic and financial conditions that go well beyond the likely outcomes.
In Hungary, one bank, namely OTP Bank Nyrt., has participated in the EU-wide stress test. The Minister for National Economy acknowledges the results of the test and welcomes the enhanced transparency in the publication of the test results and in the disclosure of the sovereign exposures of participating banking group.
The results of the test indicate that the bank is adequately capitalised, with CT1 ratios significantly above the 5% benchmark under the stress scenario.
Hungary is committed to safeguard financial stability and to contribute to further enhancing the resilience of the banking sector as part of a comprehensive EU-wide strategy.
The statement can be found at the website of the OPT Bank.
(Ministry for National Economy)
