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Few Banks Fail EU Exams
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As only 8 out of 90 banks fail in E.U. stress tests, there is considerable skepticism about the rigor of the stress tests in July 2011. All the banks are relatively smaller banks, with five in Spain, two in Greece and one in Austria. The failed banks have a total capital shortage of 2.5 billion euros. Analysts had expected over 20 banks to fail and requiring tens of billions of euros of capital injections. The 2010 tests had experienced the same criticism, with seven lenders failing and a capital deficit of 3.5 billion euros. European Banking Authority officials concede the lack of sufficient rigor in the tests and attribute this to conflicting political pressures from regulators and banks. EBA officials say their main usefulness is in the added transparency and information it brings. In the 2010 stress tests each bank had to show 149 pieces of data. In the 2011 tests this went up to 3200 points of data about exposures from government debt to derivatives. EBA Chairman Andrea Enria put it this way: "There is this perception that there are things hidden under the carpet, this will help the market to make up its own mind." About 1000 pages of documents were released by EBA to analysts, investment bankers, and investors after the tests.
EU stress tests for banks in 2011
03/18/2011
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Wall Street Journal 07/16/2011
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
Banks, Regulators Still Jostling Over EU Stress Tests
Wall Street Journal 07/14/2011
Europe Needs Lesson in Stress Management
Wall Street Journal 07/14/2011
Fears that Basel III and European Banking Authority E.U. Stress Tests may not adequately reflect the risks on banks balance sheets.
01/21/2010
The situation after bailout of Irish banks in November 2010 by the EU. The Irish banks had passed European stress tests. Portuguese and Spanish banks may face a similar situation.
Grouped Articles
Wall Street Journal 07/16/2011
Europe Fails Another Stress Test
Wall Street Journal 07/16/2011
The Battle Over Bank Rules at Basel III
BusinessWeek 05/27/2010
Wall Street Journal 09/13/2010
Basel Rules Unlikely to Force Capital Raising
Wall Street Journal 09/14/2010
Wall Street Journal 09/14/2010
The 2010 and 2011 EU stress tests that failed of Laiki Bank and Bank of Cyprus- origins of the banking crisis in Cyprus
07/16/2011
The two Cyprus banks passed the EU's 2010 stress tests, and passed them again in 2011, going on to give out dividends and increase their exposure to Greece, even as Greece faced a deepening financial crisis. The two banks increased their holdings of Greece's bonds by $1 billion in 2010, according to EU regulators, and took on more risks. The EU stress tests looked at how the banks would do in deteriorating economic conditions but did not consider the possibility of losses from sovereign government bonds.
Grouped Articles
Wall Street Journal 07/16/2011
Europe Fails Another Stress Test
Wall Street Journal 07/16/2011
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Piraeus Bankâs Michalis Sallas Reaches the Top in Greece
New York Times 06/10/2013
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
European Banking Authority E.U. Stress tests for banks in 2010 and 2011
10/02/2009
Stress tests for banks in Europe in July 2010 and in 2011.
Grouped Articles
Wall Street Journal 07/16/2011
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
EU's Top Banks Pass Stress Tests
Wall Street Journal 10/02/2009
Document Contradicts EU Bank Statement
Wall Street Journal 10/06/2009
Wall Street Journal 10/03/2009
Moody's Questions Spanish Banks
Wall Street Journal 10/14/2009
New Round of Bank Stress Tests in 2010-2011
11/18/2010
Grouped Articles
Wall Street Journal 07/16/2011
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
Fed Orders 2nd Round of Stress Tests
Wall Street Journal 11/18/2010
Dimon Calls Foul on Risk Models
Wall Street Journal 03/11/2011
Stress Rules Hit 2 German Banks
Wall Street Journal 04/13/2011
15 of 19 Big Banks Pass Fedâs Latest Stress Test
New York Times 03/13/2012
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