On the 31st of January 2023, the European Banking Authority (EBA) launched a stress test that covered the 70 largest European banking groups, including 57 banking groups under direct supervision by the European central bank (ECB), and representing approximately 75% of the European banking system’s total assets. Concurrently, and on the same day, the ECB launched an additional stress test on another set of 41 banks under its direct supervisory remit.