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All Nordic banks pass EU stress test
The banks in Sweden, Finland and Denmark examined in the European Union's banking stress tests passed with a clean bill of health, Swedish, Danish and Finnish financial authorities said.
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Sweden's 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 financial crisis.
The Swedish Financial Supervisory Authority (FI) said in a statement 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 assessement 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.
Last Updated (Friday, 23 July 2010 22:17)







