{
  "title": "European Union: Publication of Financial Sector Assessment Program Documentation—Technical Note on Stress Testing of Banks",
  "publication": "IMF Staff Country Reports, March 15, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/european-union-publication-of-financial-sector-assessment-program-documentation-technical-40396",
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  "summary": "This article summarizes the European Union’s stress testing exercises and future priorities. The 2011 solvency stress testing was marked by methodology and data. The exercise forced banks to increase the quality and quantity of capitalization.",
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    {
      "heading": "Summary",
      "content": "- Publication date: March 15, 2013\n- This article summarizes the European Union’s stress testing exercises and future priorities.\n- The 2011 solvency stress testing was marked by methodology and data.\n- The exercise forced banks to increase the quality and quantity of capitalization.\n- The test raised many controversial issues, but the benefits of this bold approach overshadow the risks.\n- Several stress testing exercises have filled the pages of literature; an additional stress test is reviewed here."
    },
    {
      "heading": "Major findings and observations",
      "content": "- 2011 solvency stress testing:\n  - Marked by methodology and data challenges.\n  - Resulted in banks increasing both the quality and quantity of capitalization.\n  - Presented controversial issues alongside important benefits.\n- The article situates the 2011 exercise within a broader set of stress testing exercises for the European Union and reviews an additional stress test."
    },
    {
      "heading": "Thematic coverage and subjects",
      "content": "- Subjects listed:\n  - Banking\n  - External balance assessment (EBA)\n  - External position\n  - Financial sector policy and analysis\n  - Financial statements\n  - Liquidity stress testing\n  - Public financial management (PFM)\n  - Solvency stress testing\n  - Stress testing\n- Keywords:\n  - balance sheet\n  - bank\n  - capital plan\n  - capitalization level\n  - cash flow\n  - CR\n  - ECB liquidity provision\n  - Europe\n  - External balance assessment (EBA)\n  - Financial statements\n  - ISCR\n  - Liquidity stress testing\n  - recapitalization exercise\n  - recovery plan\n  - solvency stress\n  - Solvency stress testing\n  - Stress testing\n\n---\n\n Content in this bundle\n\n- cr1368\n  - cr1368 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr1368 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 15, 2013",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475533408.002",
    "Publication date: March 15, 2013",
    "This article summarizes the European Union’s stress testing exercises and future priorities.",
    "The 2011 solvency stress testing was marked by methodology and data.",
    "The exercise forced banks to increase the quality and quantity of capitalization.",
    "The test raised many controversial issues, but the benefits of this bold approach overshadow the risks.",
    "Several stress testing exercises have filled the pages of literature; an additional stress test is reviewed here.",
    "2011 solvency stress testing:",
    "The article situates the 2011 exercise within a broader set of stress testing exercises for the European Union and reviews an additional stress test.",
    "Subjects listed:",
    "Keywords:",
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