Bank stress tests see seven fail
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, Banca Civica, Unnim and Cajasur. The other two were Germany's Hypo Real Estate and Greece's ATEBank.
The tests assessed banks' ability to survive future economic shocks.
The seven banks would need a total of 3.5bn euros (£3bn) of new capital to meet the standards required, CEBS said.
Vitor Constancio of the European Central Bank said the tests were very extensive.
23 Jul 2010