by Admin
23. July 2010 04:36
Seven of the 91 European banks that underwent stress tests have failed the healthchecks, the Committee of European Banking Supervisors (CEBS) has said.
They include five Spanish banks - Diada, Espiga, Bianca Civica, Unnim and Cajasur. The other two were Germany's Hypo Real Estate and Greece's ATEBank.
The tests assessed whether banks would be able to survive future economic shocks.
BBC business editor Robert Peston said the results appeared to be "good news".
But he added that some people would argue that the results were not demanding enough.
Reassurance
The stress tests were conducted on a bank-by-bank basis.
The move was designed to reassure investors over the health of Europe's financial sectors.
The UK's four major banks - RBS, Lloyds, HSBC and Barclays - were among the banks tested.
The Financial Services Authority had already said it expected the UK banks to pass the tests.
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Opinion