I.The Bank of England said in its recently issued Financial Stability Report that the EU's upcoming stress tests of banks must be more transparent. The assessments must show the ability of the banking industry to weather certain risks. The central bank also said that because banking risks are systemic, there is a need for "a comprehensive rather than country-by-country solution." The BoE said the resilience of U.K. banks has improved during the past several months, but they continue to face threats from the European sovereign-debt crisis and potential bubbles in high-yield bonds and emerging-market assets. Full story here
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