FRANKFURT, June 30 Germany's banks have agreed
to participate in EU-wide stress tests once the detailed
parameters have been set, the Bundesbank and financial watchdog
Bafin said on Wednesday.
"The representatives of Germany's banking sector expressed
their readiness in principle to participate in the stress tests
on the basis of consistent European parameters," the Bundesbank
said in a statement issued following a meeting between the
central bank and the heads of the country's biggest banks.
Those parameters would soon be presented, it added.
Reuters reported on Tuesday that three German lenders,
including the country's biggest, Deutsche Bank (DBKGn.DE), as
well as Commerzbank (CBKG.DE) and landesbank BayernLB
[BAYLB.UL], had passed a previous test on how well they could
handle economic turmoil or shocks to the financial system.
A further round of tests proposed by the European Central
Bank and the European banking regulator CEBS will examine more
than 100 other banks in Europe, 15 of them in Germany, sources
close to the matter told Reuters on Monday. [ID:nLDE65R1Z9]
(Reporting by Jonathan Gould)