ECB says 25 European banks fail stress test
- 10 years ago
ROUGH CUT (NO REPORTER NARRATION).
STORY: Some 25 European banks failed a "stress test" of their capital strength conducted by European authorities, the European Central Bank Vice President, Vitor Constancio, announced on Sunday (October 26).
Roughly one in five of the euro zone's top lenders failed landmark health checks at the end of last year but most have since repaired their finances, the ECB said.
"A total of 25 billion capital short falls were identified across 25 participating banks as a joint result of the AQR and the stress test. The AQR itself resulted in a gross impact on assets values in needs of adjustments by 48 billion, 37 billion of which did not generate a capital short fall. So if you add up the 37 with the 25 capital short fall you get the overall impact on the banks of 62 billion coming from the comprehensive assessment," Constancio told at a news conference in Frankfurt.
The ECB found the most critical problems to be in Italy, Cyprus and Gr
STORY: Some 25 European banks failed a "stress test" of their capital strength conducted by European authorities, the European Central Bank Vice President, Vitor Constancio, announced on Sunday (October 26).
Roughly one in five of the euro zone's top lenders failed landmark health checks at the end of last year but most have since repaired their finances, the ECB said.
"A total of 25 billion capital short falls were identified across 25 participating banks as a joint result of the AQR and the stress test. The AQR itself resulted in a gross impact on assets values in needs of adjustments by 48 billion, 37 billion of which did not generate a capital short fall. So if you add up the 37 with the 25 capital short fall you get the overall impact on the banks of 62 billion coming from the comprehensive assessment," Constancio told at a news conference in Frankfurt.
The ECB found the most critical problems to be in Italy, Cyprus and Gr