2011 European Union bank stress test

A European Union-wide banking stress test has been conducted by the Committee of European Banking Supervisors every year since 2009. The second instance (2010 European Union banking stress test exercise) was performed in July 2010. This third round was carried out with results published in July 2011. The Council of the European Union (in its economic and financial – ECOFIN – configuration) mandated that Committee so to do, in the aftermath of the global financial crisis which started in 2007.

2011 stress test results

The results for the 2011 exercises were published on 15 July.[1] Eight out of 90 banks failed the test—five in Spain, two in Greece and one in Austria.[2] Spain also is one of the leading countries in the list of approved banks (20), because it put up almost all of its financial sector (95 percent, against an average of about 60 percent).[3]

The test is controversial, because Spain and Germany have complained the stress tests excluded dynamic provisions recognised by local regulators.[4] In fact, a German bank didn't pass the test but they refused to publish its data and therefore it is not included in the official list

gollark: Fascinating.
gollark: If you just doubled the number of people "involved in politics" by some loose definition by taking arbitrary random people, would this actually improve the political situation? I would be surprised if it did; I don't think most have some sort of unique original contribution, but just go for participating in shouting louder at other groups.
gollark: Possibly true but not very relevant.
gollark: You could probably argue that something something tragedy of the commons, but clearly there are a lot of people who do do politics and it is possible that adding more would actually worsen things.
gollark: Even if it is the case that if everyone ever ignored politics there would be problems, that doesn't mean that one person ignoring it is bad.

See also
  • List of bank stress tests
  • European System of Financial Supervisors
  • Supervisory Capital Assessment Program, a similar exercise in the United States of America

References
  1. EUROPEAN BANKING AUTHORITY: 2011 EU-WIDE STRESS TEST AGGREGATE REPORT; 2011 EU-WIDE STRESS TESTING EXERCISE
  2. Eight out of 90 banks in Europe fail stress-test, five of them from Spain, MercoPress
  3. Spain takes brunt of stress test failures, Financial Times.
  4. Stress Tests Pressure 24 Banks to Raise Capital, Bloomberg

Further reading
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