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RPT-All Portuguese banks passed stress tests

- BoP
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Reuters - 15/07/2011 18:22:01
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(Repeats to new USN without changes)
LISBON, July 15 (Reuters) - All four Portuguese banks tested by the European Banking Authority among 91 banks in Europe have passed the financial stress tests, showing core Tier 1 ratios above 5 percent under the adverse scenario in 2012, the Bank of Portugal said on Friday.

The banks, that account for two-thirds of consolidated banking assets in Portugal, are the state-run Caixa Geral de Depositos, largest listed bank Millennium bcp (BCP.LS), Espirito Santo Financial Group -- the holding company of Banco Espirito Santo (BESNN.LS) -- and Banco BPI (BPI.LS).

Portugal is receiving EU/IMF rescue funds under a 78 billion euro bailout agreed in May. Bailout terms already include requirements for banks to raise their capital ratios and set aside 12 billion euros for banks' recapitalisation needs. (Reporting by Sergio Goncalves, writing by Andrei Khalip) [email protected]))
Keywords: BANKS TEST/PORTUGAL
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Germany Press: EU Leaders To Meet Next Wk Over PSI For Greece



BERLIN (MNI) - EU heads of state and government will likely meet next week to agree on the basic principles of private sector involvement (PSI) in the planned new fiscal rescue package for Greece, German weekly Die Welt reported Friday in a pre-release of its Saturday edition.
In all likelihood, the EU leaders will meet next week but not before Wednesday, the paper wrote.
According to Die Welt, the Eurozone governments are currently negotiating about several options from which banks might even have the right to choose. Two of the options being discussed are an exchange of old Greek bonds into new ones, possibly with an EU guarantee, or a bond buyback by Greece with money from the European Financial Stability Facility, the paper wrote.
In return, Greece would have to agree to further consolidation steps.
vedi che ci siamoooooooooooooo :)))))
 
UPDATE 1-German banks blast EBA stress test
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Reuters - 15/07/2011 18:19:52
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* All participating German lenders pass
* Helaba data excluded from stress test publication
* HSH, NordLB scrape through

(Adds detail, background)
FRANKFURT, July 15 (Reuters) - Germany's banks accused the European Banking Authority (EBA) of politically influenced, arbitrary decision-making in the way it conducted a bank stress test as 12 of 13 lenders in the country passed.

Earlier this week, Frankfurt-based Helaba ruled itself out of the stress test of 91 European lenders after the EBA at the last minute refused to acknowledge an improvement in the quality of its capital. (news)
"The European stress test has not contributed toward building trust in a sufficient manner," said Heinrich Haasis, head of the association of German savings banks. "Arbitrary benchmarks were applied to achieve political goals."

The Association of German Banks, which represents Deutsche Bank (DBK.FRA) and Commerzbank (CBK.FRA), said it was "not comprehensible" that Helaba's improved capital position was not fully taken into account by the EBA when it conducted the tests.

Paul Lerbinger, chief executive of HSH Nordbank, said ignoring contractual guarantees given by HSH's owners Hamburg and Schleswig Holstein failed to convey the bank's ability to withstand shocks.

"The result in no way reflects economic reality."

The EBA's test only allows banks to mitigate any shortfalls in capital with plans for raising pure equity or mandatory restructuring plans agreed between January and the end of April.

Germany's Bundesbank said on Wednesday that Helaba holds sufficient capital and that its amended hybrid debt meets tougher new global bank capital standards, known as Basel III, that take effect from 2013.

State-controlled banks HSH Nordbank and NordLB scraped through the stress test, with a core Tier 1 capital ratio of 5.5 percent and 5.6 percent, respectively, based on the test's adverse scenario. Both were just above the 5 percent threshold needed to pass the test. (Reporting by Kathrin Jones; writing by Edward Taylor)
Keywords: BANKS TEST/GERMANY
 
STRESS TEST, BOCCIATE ATEBANK, EUROBANK, VOLKSBANKEN, CAJA 3, BANCO PASTOR, CATALUNYA CAIXA, UNNIM, CAM - EBA
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Reuters - 15/07/2011 18:01:00
 
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