Reuters: Between 10 and 15 Banks Will Not Pass The Financial Strength of The Eu Banking Sector
Published by LatestWorldNewsBlog on June 29, 2011 in Europe-
0
Liked it 
Subscribe to RSS
One in six European banks will not pass the financial strength of the EU banking sector, according to sources close to the situation said.
One in six European banks will not pass the financial strength of the EU banking sector, according to sources close to the situation said.
The sources revealed that the European Banking Authority will announce within weeks that between 10 and 15 banks, of the 90 financial institutions subject to stress tests, failed to meet standards required by the ECB. ”How many expect to fail. I would say that between 10 and 15, “said a senior official of the European banking sector.
Image via Wikipedia
troubled banks are in Greece, Germany, Portugal and Spain. supervisors intended to publish the results at the end of June, but the difficulties in applying a test uniformly forced authorities to delay publication of such data. Test results on the financial strength of European banks will be published on 13 July, said sources close to the situation said.
With these tests, the regulator wants to ensure that banks have sufficient capital to withstand more difficult economic scenarios.Scenarios that will be testing are pretty tough and will include Europe-wide recession and a decline of 15% on European stock markets. In total, will be tested 65% of banking assets in the European Union (EU).
