The results of the 2011 EU-wide stress test were published by the European Banking Authority (EBA) on July 15, 2011. This year’s EU-wide test has been carried out on 91 banks representing 65percent of the Euro zone’s banking sector’s total assets. According to the results, of the eight banks that failed the test, five were Spanish, two were Greek, and one was Austrian.
The European Banking Authority will now give each failing bank recommendations on how to find more capital, as well as advice to an additional 16 banks that came close to failing the test. They include institutions inCyprus,Germany,Italy,Portugal, andSlovenia.
Access the results and press conference video at: http://stress-test.eba.europa.eu/
Results for the Spanish banking sector can be found at the Bank of Spain’s web page.