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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
Cyprus Heads Toward Exit, Leaving Greece as Last Bailout Member
Wall Street Journal 03.04.2016
Wall Street Journal 03.28.2013
Cyprus Capital Controls Come Years After They Were Needed
New York Times 03.28.2013
Regulators Let Big Banks Look Safer Than They Are
Wall Street Journal 04.01.2013
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