Seven EU banks fail stress tests (BBC)

[eppur_se_muova]

Seven of the 91 European banks that underwent stress tests have failed the healthchecks, the Committee of European Banking Supervisors (CEBS) has said.

They include five Spanish banks - Diada, Espiga, Banca Civica, Unnim and Cajasur. The other two were Germany's Hypo Real Estate and Greece's ATEbank.

The tests assessed banks' ability to survive future economic shocks.

The seven banks would need a total of 3.5bn euros (£3bn) of new capital to meet the standards required, CEBS said.

" will have to agree with their respective supervisors a plan over a given time period which will explain how this weakness will be resolved," CEBS chairman Giovanni Carosio said.
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more: http://www.bbc.co.uk/news/business-10732597

[Po_d Mainiac]

1. So there are actually 7 honest bookkeepers in all of Europe. n/t