The New European Banking Authority (EBA) Board of Supervisors (which has taken over all tasks and responsibilities from the Committee of European Banking Supervisors (CEBS) has agreed on a strategic work plan for an EU-wide stress test which will take place in the first half of 2011 with the results being published in mid-2011. This will be carried out in conjunction with the European Systemic Risk Board (ESRB) the European Central Bank (ECB) and the European Commission. The objective of this stress test is to assess the resilience of the EU banking system to hypothetical stress events under certain restrictive conditions and is one of a range of supervisory tools to assess the strength of individual institutions, as well as the overall resilience of the system.