Financial sector supervisors the European Central Bank (ECB) and the European Banking Authority (EBA) are planning a new round of stress tests for European banks.

The EBA already announced last year that they expected to carry out a review for 2013 and Austria's Financial Markets Authority (FMA) repeated yesterday that "there will be a stress test this year from the EBA. That is the current status of the decision."

While the FMA indicated that the details were still under discussion, sources told Reuters that the new tests would be carried out jointly between the EBA and the ECB and that they would take place in September, although they admitted that the date hasn't been finalized.

The ECB was recently granted the power to take on new Eurozone bank supervision in 2014, while the EBA oversees financial institutions in the 27 member states of the European Union.

JM

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