Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-727-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-05-10"^^xsd:date2
dcterms:Is Part Of	lp_eu:Stress tests of the EU banking sector (debate)2
dcterms:Language	"sv"^^xsd:language2
lpv:document identification number	"en.20110510.68.2-727-000"2
lpv:hasSubsequent	lp_eu:2011-05-10-Speech-2-728-0002
lpv:speaker	lp:Olle Schmidt2
lpv:spokenAs	substitute; Delegation for relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area (EEA) Joint Parliamentary Committee (2010-11-22--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 substitute; TRAN (2010-11-22--2012-01-18)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 substitute; IMCO (2009-07-16--2012-01-18)3 substitute; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 member; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3 member_of_the_bureau; ALDE (2009-07-20--2014-06-30)3 unknown; Folkpartiet liberalerna (2009-07-14--2014-06-30)3
lpv:translated text	"Mr President, we are living in difficult times. The financial crisis has shown us how important it is for citizens to have confidence in the banks and the payment systems. Stress tests for the banks are therefore an important instrument for examining the resilience of the banks to unexpected shocks. Financial stability is about how well capitalised the banks are and how much resilience they have. Our experience shows that vigorous tests increase confidence in the banking system and the tests should be tough, credible, comprehensive and have clear requirements. The example of Ireland demonstrates the opposite, unfortunately. I would like to emphasise the importance of openness and transparency with regard to publication of the results of the stress tests. Publication of the individual tests is very important in order to help strengthen citizens’ and the market’s confidence in the banks. Just as Mr Barnier said, it is all about confidence. Future stress tests need to be continually developed in order to include real market conditions and risks. By reporting the level of exposure to sovereign debt, the market players can make their own risk assessments. This is important in order to strengthen the market’s confidence in the design and credibility of the tests. The Commission, the European Systemic Risk Board (ESRB) and the European Banking Authority (EBA) should be clear about what the stress tests are intended to show and they should check and ensure that the assumptions of the stress tests reflect the risks. If the stress tests reveal that any particular banks do not meet the requirements, the Member States must take immediate action. The Swedish experience of expansive banks in the Baltic States demonstrates that the risks can quickly build up as a result of growing imbalances. History has taught us that caution is necessary, but delays or hesitation in the face of unsatisfactory results can be devastating. Thank you."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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