FRANKFURT (AFP) - The European Central Bank hailed on Friday the results of European Union stress teste of major commercial banks, saying the findings confirmed banks could survive severe shocks.

• All British banks pass European stress tests
• All major Swedish banks pass EU stress test
• Seven European banks fail EU stress tests

The ECB "welcomes the publication of the results" of tests on 91 banks which "confirms the resilience of EU and euro area banking systems to major economic and financial shocks," a statement said.

The London-based Committee of European Banking Supervisors released results of tests conducted in cooperation with national supervisory authorities and the ECB to reassure investors that European banks stood on firm financial footing.

Analysts have warned however that if the tests are deemed to lenient it could increase tension on crucial interbank lending markets.

Also t European Union's Belgian presidency on Friday hailed the "high degree of resilience" of the European banking sector after just seven of 91 banks failed so-called "stress tests."

"The aggregate results of the tests show a high degree of resilience in the EU banking sector as a whole, reflecting the efforts undertaken over the last years by the banks and some governments to restore confidence in the European banking sector," said a statement.