The European Central Bank plans to carry out comprehensive stress tests on 128 top eurozone banks over the next year as it aims to build confidence in the financial sector by improving transparency and implementing "corrective action" where needed. The central bank will ask banks to provision 8% of their risk-adjusted capital as a buffer against losses on loans and other parts of their portfolio. The STOXX Europe 600 Banks index was -1.9% at the time of writing.
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