66 of Europe's Top Banks would fail new stress test says Credit Suisse AG
At least 66 of Europe’s biggest banks would fail a revised EU stress test and need to raise about 220 billion euros ($303 billion) of capital, Credit Suisse AG analysts said in a note to clients in October.
Eight banks out of about 90 tested failed the EBA’s July stress test, with a combined capital shortfall of 2.5 billion euros, when the minimum pass level was set at 5 percent.
Royal Bank of Scotland Group Plc, Deutsche Bank AG and BNP Paribas SA would need to the most, a combined total of about 47 billion euros, analysts led by Carla Antunes-Silva wrote in a note to clients today. Societe Generale SA and Barclays Plc would each need about 13 billion euros of fresh capital.
NOW! Also available at Housemans Bookshop - London telephone orders contact the shop by phone (020 7837 4473), or e-mail firstname.lastname@example.org.
Marxism against Market Socialism available at Housemans from 10th April at 7 pounds per copy telephone orders or contact the shop by phone (020 7837 4473), or e-mail email@example.com