Denmark pleased with results of bank stress tests

12:33, July 25, 2010      

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The Danish government Friday expressed satisfaction with the high grades scored by all participating Danish banks in the European bank stress tests.

Danske Bank, Jysk Bank and Sydbank took part in the tests in which 91 European banks were examined by European Union (EU) authorities to test their ability to cope with worsened economic conditions, and all the three banks passed the tests.

"All the three Danish banks and Nordea bank passed the test, which confirmed the good health of the Danish banking sector," said the Danish Finance Ministry, cited by the Danish daily Politiken.

Banks which failed the tests will be labeled "uncredited" and face the risk of losing their banking licenses.

The tests, carried out by the EU's Committee of European Banking Supervisors (CEBS), assessed the banks' balance sheets to see whether they would be able to stay in business if the European economy and sovereign debt crisis became worse.

The aim of the tests is to reassure investors and boost market confidence.

The CEBS released test results Friday evening. The major EU banks were proven to be robust and resilient, showing they had enough capital to survive a further economic or sovereign-debt crisis.

Seven banks did not pass the tests. They were Germany's Hypo Real Estate, Greece's ATE, and five Spanish banks, Cajasur, Banca Civica, Caja Duero, Caixa Sabadell and Caixa Catalunya.

Source: Shanghai Daily

(Editor:王千原雪)

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