8 EU Banks Fail Testing – 16 in “Danger”

Of the 90 European banks to undergo the so-called “stress tests” to determine how prepared the banking system is for another financial crisis, the European Banking Authority (EBA) said eight failed the test. Another sixteen were deemed to be in the “danger” zone. Of the failed banks, five were Spanish, two were Greek, and once was Austrian.

The banks deemed to have failed, or in danger of failing, will face pressure to build up reserve capital and to strengthen their balance sheets.

Source: BBC News

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