European banks will get preliminary results on how they’ve fared in the ECB’s stress tests a month early to “allow them to prepare market response”, Reuters reports. They will also be given 48 hours notice before the final results are published according to documents given to executives in Frankfurt last week.
By classifying the results as preliminary, and not giving the full picture, the ECB ensures banks will not be obliged to disclose any shortfalls to markets under stock exchange rules
No date has yet been set for the publication of the stress test but if you see unusual market moves 30 days and 48 hours before the deadline, don’t be surprised.
