The headline: 7 of the 91 banks have failed the test.
Check out Joe Weisenthal’s Take: It’s Official, The Stress Tests Were A Joke
Check out Gregory White’s Take: It’s All About The Euro And Sovereign Debt, Again
5 Spanish banks have failed the tests.
1 German bank has failed the test.
- Hypo Real Estate
1 Greek bank has failed the test.
- ATE Bank
Here are the details as they emerged:
- The German Bundesbank says the that only one bank has failed. No banks need to raise new capital. Hypo Real Estate has failed, which was leaked before.
- The French National Bank says all banks have passed the tests, according to CNBC.
- The Portuguese National bank say all of their banks have passed the test, according to CNBC.
- The Swedish National Bank has said that all banks have passed the test, per CNBC.
- The Bank of Ireland needs €2.6 billion in funds to recapitalize (unconfirmed).
- Bank Allied Irish Bank and Bank of Ireland have passed the tests, though both need additional capital.
- Spain’s Diada Savings Bank has failed, per FT Alphaville.
- Spain’s Unnim has failed, per FT Alphaville.
- Greece’s ATE Bank has failed the stress test.
- Deutsche Bank has passed the stress test with flying colors, having Tier 1 capital ratios significantly above the 6% minimum in all scenarios. (via Deutsche Bank)
- All 5 major Italian banks have passed the stress tests, according to Bloomberg.
- Spain’s Civica has failed the stress tests, which makes sense considering they were pursuing more capital earlier today.
- Spain’s Cajasur has failed, per Alphaville. But do recall it is being merged with other cajas in Spain, so is already dealing with its difficult situation.
- Spain’s Espiga has failed the test, according to The Guardian.
- Overall, banks have only shown a €3.5 billion capital short fall. That is very small. But makes sense, since what we are talking about is small bank failure, not any large bank.