# Professor Viral Acharya's joint research on banking stress tests is spotlighted

1 Faculty News August 7, 2016 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from the [Financial Times](http://www.ft.com/cms/s/0/048a8f4e-5b2d-11e6-9f70-badea1b336d4.html#axzz4GdRFLaHp) -- "The report’s authors — ZEW’s Sascha Steffen, NYU Stern’s [Viral Acharya](http://w4.stern.nyu.edu/faculty/bio/viral-acharya) and University of Lausanne’s Diane Pierre — argue that the tests dramatically underestimate the actual capital shortfall at the banks, which they say could be as high as €900bn based on a market measure of capital."

[Read more](http://www.ft.com/cms/s/0/048a8f4e-5b2d-11e6-9f70-badea1b336d4.html#axzz4GdRFLaHp)