- Stress tests to allow assessment of potential impacts
Ahh, I feel better already. NOT!
The stress tests, were were told earlier this week, do not assume a sovereign default. How you cannot test for that scenario when it is staring you right in the face on a daily basis boggles the mind.
Bernanke told us yesterday that the big US banks had been stress tested for a Greek default…
UPDATE: Stress test parameters have been adjusted to reflect market developments, they say.
About bloody time…