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The results do not mean that the banks failed the stress tests, which do not contain a pass/fail threshold.
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Both Irish banks easily passed the 5.5% hurdle for the 2015 year end, with AIB at 13.1% and BOI at 11.3%.
Well capitalised
In a statement, AIB sought to calm fears by stressing it was “well capitalised” and back “generating capital” – and that the tests were based on its 2015 balance sheet.
It has recorded a €1 billion profit in the first six months of 2016.
The EBA said the results showed there was still more work to do to put banks on a firmer footing.
Italian lender Monte dei Paschi, weighed down by billions of bad loans, last night put together an 11th-hour rescue package to raise some €5 billion to mitigate fallout from the stress test outcome.
This was the third stress test of banks in the EU since taxpayers had to bail out lenders in the 2007-09 financial crisis, with no pass or fail mark this time round.
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This is a glimpse of what’s to come after Britain voted to leave the EU. They wanted boarders & separation… then they got to deal with the consequences! Be careful what you vote for, you might get it!
What do they expect! This is a glimpse of what’s to come after Britain voted to leave the EU. They wanted boarders & separation… then they got to deal with the consequences! Be careful what you vote for, you might get it!
Blame, blame, blame…..but not a word about the lack of police and border staff in France and in England being due to cuts in staffing due to the neoliberal policies pursued by both governments in recent years. The beneficiaries are of course the city of London financial services parasites who have their private jets….no worries there then. How long before police and customs people are on zero hours contracts??
Shocking levels of incompetence on both sides in the failure to have adequate staffing levels after brexit Nightmare scenario for poor families with kids especially and people with medical issues
Again, once the tourists get caught up in a queue there is uproar, freight traffic goes through this every week, the ports of Dover and Calais are not fit for use, hasn’t been for a long time, the delays we have to endure are crazy but no one gives a damn
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