European stress tests show seven banks fail
Seven of 91 European banks have failed stress tests and show an overall capital shortfall of 3.5 billion euros, the organizers of the tests said on Friday.
As a result of the adverse scenario after a sovereign shock, seven banks would see their Tier 1 capital ratios fall below six percent, the Committee of European Bank Supervisors (CEBS) said.
About 10 banks had been expected to fail.
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