It's easy to mock the legitimacy of government-run stress tests, even when they work. In just over a year, many observers have done it three times.

Like its predecessors, a European Union test of 22 banks in October and the May 2009 U.S. exam of 19 banks, Friday's 91-bank euro-zone revue drew a modest market reaction and a justifiable round of catcalls dismissing it as political theater.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access