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Swedish banks pass EU stress test

Swedish banks pass EU stress test

Published: 24 Jul 2010 09:13 GMT+02:00
Updated: 24 Jul 2010 09:13 GMT+02:00

Nordea, SEB, Handelsbanken and Swedbank, along with Denmark's Danske Bank, Jyske Bank and Sydbank and Finland's OP Pohjola all passed the stress test in which 91 European banks were examined by EU authorities to test their ability to resist another crisis.

The Swedish Financial Supervisory Authority (FI) said in a statement on Friday that the Swedish banks had passed the test "with a comfortable margin."

"According to FI, the major banks have enough capital to weather even more severe scenarios that what was assumed in this stress test," the Swedish authority said, adding the test did not change its previous assessment on the banks.

The Danish Financial Supervisory Authority also said the test did not "change the perception of financial stability in Denmark, and hence no new initiatives are called for."

Finland's Financial Supervisory Authority meanwhile said the test "confirmed the good health of the Finnish banking sector," and that the results did "not warrant any special measures for ensuring the stability of the banking sector in Finland."

The London-based Committee of European Banking Supervisors (CEBS) on Friday released results of tests conducted in cooperation with national supervisory authorities and the European Central Bank to reassure investors that European banks stood on firm financial footing.

Hypo Real Estate in Germany, five regional lenders in Spain and a bank in Greece failed the test.

AFP/The Local (news@thelocal.se)

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Your comments about this article

17:15 July 24, 2010 by Thebinary1
Firstly, its no surprise that the "stress test" it just PR bullshit.

But more interestingly, which of the 91 banks failed the stress test?
01:30 July 25, 2010 by Larry Thrash
Is it true that the stress test is no more than having 5 people go to ATMs and withdraw 500 skr each? If they got the money then the bank passed.

Seriously the stress test are a joke because they didn't take many factors into account. It's all political spin. However I think the banks in Sweden are better off than most. Here in America banks aren't doing as well because they were forced by the Democrats to give money to those without good credit scores.
06:23 July 26, 2010 by Thebinary1
FYI, I am not referring to those EU banks that officially failed the "stress test". I am implying the 30 or so banks excluded from the tests that also falls in the "failed" category.
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