And anyone who intends to run a marathon should first undergo a rigorous health check to find out whether he or she will even be physically up to the task. The comprehensive assessment was an extremely thorough check-up, including a demanding “cardiac stress test”. You now know the outcome: Germany’s large banks are robust enough to withstand even severe stress.
This is certainly an encouraging result, as for the banks, the marathon is only just beginning. Competition is becoming tougher and more international; regulation is becoming stricter, and supervision more European; in addition, the economic setting is challenging – think “lowinterest-rate environment” – and technology is continuously evolving. Surviving and prevailing under these conditions is akin to a marathon.