25 banks fail ECB stress check on financial health
Depth of EU-wide audit on banks welcomed, though there was alarm at the news that 25 banks would not be able to withstand another economic crisis
Twenty-five eurozone banks failed stress tests designed to check their ability to endure another major economic crisis, the European Central Bank announced on Sunday.
The tests were part of the ECB's Comprehensive Assessment (CA) of the euro area's 130 largest banks, which examined the resilience of bank balance sheets to both a baseline and an adverse crisis scenario. The audit also incorporated an in-depth asset quality review (AQR).
It identified a total capital shortfall of €25 billion at 25
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