Jul 15, 2011
Eight banks fail European stress tests
The European Banking Authority said Friday that eight banks failed its stress tests, with a combined capital shortfall of 2.5 billion euros ($3.5 billion). A further sixteen banks narrowly passed the tests. The capital shortfall was even smaller than the 3.5 billion euro shortfall of the seven banks that failed the tests last year. But the authority said this was in part because banks have raised significant amounts of extra capital since the start of the year. In total, around 50 billion euros of capital was raised between January and April. If capital levels from the end of 2010 were used, 20 banks would have failed the tests. The EBA didn't immediately name the banks that failed, but individual banks will release their own results.by erectusplus at 9:45 AM |
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