Europe braced for bank stress test results - Banking - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Europe braced for bank stress test results

Europe braced for bank stress test results

Category: Banking

Updated: 23/07/2010
First Published: 23/07/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Europe is bracing itself for the results of stress tests carried out on banks across the continent.

The examination of the state of European banks has been designed to test whether they are in a position to deal with any future economic problems, and to inject some confidence back into financial markets.

The results of tests made to 91 banks will be made public later today by the Committee of European Banking Supervisors, and speculation is mounting that some may have failed.

Reports from Spanish newspaper El Pais have said that a number of the country's banks have failed the tests, with those affected likely to be the smaller, provincial savings banks that have recently been the subject of mergers.

It has also been speculated that some banks in Germany, Greece and Slovenia may struggle to pass the tests.

Manfred Webber, the head of the Association of German Banks, said in a radio interview that the country's banks would perform well 'all in all'.

There has been no suggestion that the UK's four major banks, RBS, Lloyds, HSBS and Barclays, will fail the tests.

Santander is also expected to pass the tests.

Find the best bank account for you - compare bank accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Debit card spending still leads the way

Many of us turn to plastic at the tills these days, particularly as contactless technology makes it easier than ever before. It’s little wonder that card spending continues to ramp up – and it’s debit card spending that’s leading the way.

Current account switching to be made even easier

It was announced today that the Current Account Switch Service (CASS) will be undergoing improvements that are to be implemented in a year’s time. This should help give more customers and businesses the confidence to switch to a better bank account.

A quarter of all card payments now contactless

The rise of contactless payments shows no signs of stopping, with new milestones being hit on a seemingly monthly basis. Well, another one has arrived, with new data showing that a quarter of all card payments are now made via contactless means.