FRANKFURT (MNI) – The European Banking Authority (EBA) on Friday
warmly welcomed the announcement by the Spanish government and the Bank
of Spain of the results of an independent auditor’s report on the
capital needs of the Spanish banking sector.
“Spanish stress test results disclosed today are a major step
towards strengthening and restoring the soundness of the Spanish banking
system, which is ultimately crucial for a sustained recovery of economic
growth and employment,” EBA said in a statement.
The tests found that seven of Spain’s major banks will need fresh
capital totalling E59.3 billion.
–Frankfurt bureau tel.: +49-69-720142. Email: jtreeck@mni-news.com
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