European authorities Friday released the results of stress tests
on the 91 major banks in the region.
The test, carried out by the European Union's Committee of
European Banking Supervisors, examined the balance sheets of the
banks, their compliance with capital rules and how their exposure
to the sovereign debt of 30 European countries would affect them in
certain scenarios.
CEBS tested the banks based on three scenarios. The first
scenario measures capital levels at the end of 2011 assuming
current official EU economic forecasts. A second scenario assumes a
recession this year and next year, which CEBS estimates is a 5%
probability. The third or worst-case scenario involves recessions
this year and next year but made worse by an increase in sovereign
risks, with long-term interest rates in the EU rising by a further
30 basis points on average. The probability of this happening is
less than 5%, CEBS said.
The success or failure depends upon a bank having a Tier 1
Capital Ratio of 6% or more under each scenario.
The following is a country-by-country breakdown of the results,
based on a bank maintaining its Tier 1 Capital Ratio above 6% for
every scenario tested:
Austria (2):
Passed: Erste Group Bank AG (EBS.VI), Raiffeisen Zentralbank
Oesterreich AG
Failed: None
Belgium (2):
Passed: KBC Bank NV, Dexia SA (DEXB.BT)
Failed: None
Cyprus (2):
Passed: Marfin Popular Bank PCL (CPB.CP), Bank of Cyprus PCL
(BOCY.CP)
Failed: None
Denmark (3):
Passed: Danske Bank AS (DANSKE.KO), Jyske Bank A/S (JYSK.KO),
Sydbank A/S (SYDB.KO)
Failed: None
Finland (1):
Passed: OP-Pohjola Group
Failed: None
France (4):
Passed: BNP Paribas SA (BNP.FR), Credit Agricole SA (ACA.FR),
BPCE, Societe Generale SA (GLE.FR)
Failed: None
Germany (14):
Passed: Deutsche Bank AG (DB) , Commerzbank AG (CBK.XE),
Landesbank Baden-Wurttemberg, Bayerische Landesbank, DZ Bank AG,
Norddeutsche Landesbank, Deutsche Postbank AG (DPB.XE), WestLB AG,
HSH Nordbank, Landesbank Hessen-Thuringen, Landesbank Berlin,
Dekabank Deutsche Girozentrale, WGZ Bank AG
Failed: Hypo Real Estate Group
Greece (6):
Passed: National Bank of Greece SA (NBG), EFG Eurobank Ergasias
SA (EUROB.AT), Alpha Bank AE (ALPHA.AT), Piraeus Bank SA
(TPEIR.AT), TT Hellenic Postbank SA (TT.AT)
Failed: ATEBank (ATE.AT)
Hungary (2):
Passed: OTP Bank, FHB Jelzalogbank Nyiilvanosan Mukodo
Failed: None
Ireland (2):
Passed: Bank of Ireland (BIR.DB), Allied Irish Banks PLC
(AIB)
Failed: None
Italy (5):
Passed: Unicredit SpA (UCG.MI), Intesa Sanpaolo SpA (ISP.MI),
Banca Monte Dei Paschi Di Siena SpA (BMPS.MI), Banco Popolare SC
(BP.MI), Unione Di Banche Italiane SCPA
Failed: None
Luxembourg (2):
Passed: Banque Et Caisse D'Epargne De L'Etat, Banque
Raiffeisen
Failed: None
Malta (1):
Passed: Bank of Valletta PLC (BOV.VT)
Failed: None
Netherlands (4):
Passed: ING Bank NV, Rabobank Group, Fortis Bank Nederland
Holding (FORA-AE), SNS Reaal NV (SR.AE)
Failed: None
Poland (1):
Passed: Powszechna Kasa Oszczednosci Bank Polski (PKO.WA)
Failed: None
Portugal (4):
Passed: Caixa Geral De Depositos, Banco Comercial Portugues SA
(BCP.LB), Espirito Santo, Banco BPI SA (BPI.LB)
Failed: None
Slovenia (1):
Passed: Nova Ljubljanska Banka
Failed: None
Spain (27):
Passed: Banco Santander SA (STD), Banco Bilbao Vizcaya
Argentaria SA (BBVA), Jupiter, Caixa, CAM, Banco Popular Espanol SA
(POP.MC), Banco de Sabadell SA (SAB.MC), Breogan, Mare Nostrum,
Bankinter SA (BKT.MC), Caja De Ahorros YMP De Zaragoza, Antequera Y
Jaen, Banco Pastor SA (PAS.MC), Caja Sol, Bilbao Bizkaia Kutxa,
Caja de Ahorros YMP De Gipuzkoa Y San Sebastian, CAI, Banca March,
Banco Guipuzcoano, Caja de Ahorros De Vitoria Y Alava, Caja de
Ahorros YMP De Ontinyent, Colonya - Caixa D'Estalvis De
Pollensa
Failed: Unnim, Diada, Espiga, Banca Civica, Cajasur
Sweden (4):
Passed: Nordea Bank AB (NDA.SK), Skandinaviska Enskilda Banken
AB (SEB-A.SK), Svenska Handelsbanken (SHB-B.SK), Swedbank AB
(SWED-A.SK)
Failed: None
U.K. (4):
Passed: HSBC Holdings PLC (HBC), Barclays PLC (BCS), Royal Bank
of Scotland Group PLC (RBS), Lloyds Banking Group PLC (LYG)
Failed: None
-By Steve McGrath, Dow Jones Newswires; 44-20-7842-9284;
steve.mcgrath@dowjones.com
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