Germany checking ways to publish stress tests

June 18, 2010 12:44:46 PM PDT
BERLIN (AP) - Germany says it is looking into changing its banking law to follow through with the European Union decision to publish the results of "stress tests" of banks. The Finance Ministry said Friday it is checking if it needs to revise a clause saying banks need to approve of publication of such data.

Spokesman Michael Offer says the goal is to implement Thursday's EU agreement and restore market confidence, which should be in the banks' own interest.

EU heads of government decided the test results should be published by the end of July. Such data can give an indication about the stability of the banks.

German Chancellor Angela Merkel has said though there are concerns the current German law might prevent such publication "we will find ways" to do it anyhow.