Press Release No. 10/303

Press Release: Statement by IMF Managing Director Dominique Strauss-Kahn on EU-Wide Bank Stress Test Results

July 23, 2010

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement today on bank stress test results coordinated by the Committee of European Banking Supervisors:

“We welcome today’s publication of the results of European supervisory bank stress tests, which have been a major undertaking and represent an important step toward improving transparency and bolstering market confidence. The publication of the results and the actions that have been announced to address bank capital deficiencies promise to significantly strengthen the European financial system. These steps complement the substantial measures that have been taken already, including the establishment of the European Financial Stability Facility (EFSF) and the recent and forthcoming improvements in the economic governance and financial supervisory framework within the European Union.”