Global Macro Perspectives
Today’s Financial Times front-page: Germany accused of reneging on bank tests. The tests – designed to restore nervous markets’ faith in European banks, shaken by the near-default of Greece this year – were supposed to be accompanied by full disclosure of each bank’s sovereign debt holdings. But six of the 14 German banks tested – Deutsche Bank, Postbank, […]
Apparently, out of 91 European Union banks only 7 (seven!!!) have failed the test: Hypo Real Estate Holding AG, Agricultural Bank of Greece SA and five Spanish savings banks. The test points out that the banks that failed the test have combined capital shortfall of 3.5 billion euros ($4.5 billion). What a joke of a […]
Aggregate results of European bank stress tests will be published today at 17.30 CET (Central European Time)/ 11.30 New York time by the Committee of European Banking Supervisors. From then on, individual countries supervisors or banks will publish their results with no exact timeline determined. The test will cover 91 banks in 20 countries, which account for […]