European Bank Stress Tests Yield No Surprises But Increase The Transparency Of The Sector Jul 10

Standard & Poors, July 2010

Abstract
At first glance, the results of the EU banking supervisors' stress tests, published on July 23, 2010, appear to indicate that the European banking sector is relatively resilient. To pass the stress tests, each European bank in the sample had to achieve a Basel II Tier 1 capital ratio of at least 6% under three scenarios. Only seven of the 91 banks sampled in the EU tests showed a capital shortfall, which amounted to just €3.5 billion in aggregate. The Swiss regulator reported on the same day that Credit Suisse and UBS had satisfied its stress tests. Yet Standard & Poor's Ratings Services believes the EU tests could have been more challenging. We don't expect to take any rating actions...

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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

- Dresdner Bank AG
- HSBC Bank PLC
- BNP Paribas
- Danske Bank A/S
- Landesbank Hessen-Thueringen Girozentrale
- Skandinaviska Enskilda Banken AB (publ)
- Societe Generale
- Swedbank AB
- Portigon AG (Unsolicited Ratings)
- Barclays Bank PLC
- Bayerische Landesbank
- HSBC France
- Bank of Ireland
- Commerzbank AG
- Svenska Handelsbanken AB
- DNB Bank ASA
- UniCredit SpA
- Banca Monte dei Paschi di Siena SpA
- Dexia Credit Local
- Allied Irish Banks PLC
- Banco Santander S.A.
- The Royal Bank of Scotland Group PLC
- Santander UK PLC
- Raiffeisen Zentralbank Oesterreich AG
- ING Bank N.V.
- Banco Espanol de Credito S.A.
- Intesa Sanpaolo SpA
- Banco de Espana
- Banco Popular Espanol S.A.
- Bank of Greece
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
- Landsbanki Islands
- KBC Bank Ireland PLC
- KBC Bank N.V.
- UBS AG
- Erste Group Bank AG
- Deutsche Pfandbriefbank AG
- Hypo Real Estate Bank International AG
- Landeskreditbank Baden-Wuerttemberg - Foerderbank (L-Bank)
- Landesbank Baden-Wuerttemberg
- Lyonnaise de Banque
- Belfius Bank SA/NV
- KBC Group N.V.
- Hypothekenbank Frankfurt International S.A.
- Nordea Bank AB
- Standard Chartered PLC
- Deutsche Postbank AG
- Lloyds Banking Group PLC
- NRW.BANK
- Depfa Bank PLC
- AXA Bank Europe S.A.
- Glitnir Bank
- Barclays PLC

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