La ECB ha rejected 25 European banks negli stress test. The eagerly awaited results of the Eurotower exam, which has been preparing to take over the supervision of the European sector since 4 November, were released today at 12 and confirm the rumors circulated in recent days on the number of institutions that have not passed the test.
Overall, this is 25 billion of shortfalls, plus another 37 billion needed for the adjustment of asset values (which did not generate shortfalls), which means a total impact for banks of 62 billion.
Of the 25 banks that failed the stress tests, the ECB reports that However, 12 have already implemented measures of capital strengthening, already covering 15 billion of capital shortfall in 2014 of the 25 overall indicated as shortfalls and which had been calculated on the basis of data at the end of 2013. For the other 13, the need to prepare measures arises.
For Italian banks, I am nine those that failed the test in light of end-2013 data. After the additional interventions in 2014, there are four left that need to raise additional capital.
Bankitalia communicated that a Ps need further strengthening from 2.111 millionwhile a Carige others are needed 814 million to overcome the adverse scenario of the ECB stress tests, shortcomings which are attributable to the adverse scenario of the stress test. Following the results, the Genoese bank announced that it had unanimously approved a plan to be submitted to the ECB for approval which envisages a capital increase of at least 500 million granted by Mediobanca in addition to other asset disposal transactions .
Among the banks that according to information from the ECB (which only takes into account capital increases and the conversion of convertible bonds) still have to repay another capital, then there are Bpm for 170 million and Popolare di Vicenza for 220 million. However, the Bank of Italy announced in its press release that the two banks were saved thanks to other additional capital strengthening measures decided in 2014 (extraordinary disposals of assets, completion of procedures for activating internal models launched in time, removals of specific capital requirements). Banco Popolare, the same bank indicated in a note, instead passed the ECB exams with a wide margin thanks to the capital strengthening measures implemented in the first six months of 2014.
The banks that did not pass the exam, all 25 therefore, will have to present their repayment plans within two weeks.
