News: 2012-06-22 17:41:00 UTC+00

Spain to Stress Test Banks Again by Oct to Focus on Seven Lenders

  • Spain will carry out stress tests of its banks by Oct with a focus on seven lenders - document showed after audit
  • The test gives Spain at least two more months to negotiate for direct cash injections into lenders as part of a European aid package
  • Economy Minister Luis de Guindos said direct European aid for the banks was still an option although EZ nations had initially ruled it out.
  • A first independent audit showed the sector needs up to 62 billion euros and said Spain's three biggest banks would not need extra capital even in a stressed scenario.
  • It also said immediate problems were limited to four banks: Bankia and CatalunyaCaixa, NovaGalicia and Banco de Valencia, all three already nationalized.
Published: 2012-06-22 17:41:00 UTC+00 10 months, 4 weeks, 1 day, 17 hours, 4 min. ago
 
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