2014-10-26 17:40:00

ECB: several banks fail stress test

(Vatican Radio) Twenty-four European banks have failed stress tests of their finances, and now have nine months to improve their positions or risk closure. The review was based on the banks' financial health at the end of 2013. Ten of them have taken measures to bolster their balance sheets in the meantime. All the remaining 14 banks are in the eurozone.

The health check was carried out on 123 EU banks by the EBA to determine whether they could withstand another financial crisis. The list of 14 includes four Italian banks, two Greek banks, two Belgian banks and two Slovenian banks. The worst affected was Italian bank Monte dei Paschi, which had a capital shortfall of €2.1bn.

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