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27th of July 2011
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News Tag: stress tests

July 19, 2011

Price of gold rises above $1,600

by Kay Mitchell
”Price
The price of gold has risen to a fresh all-time high of $1,610 an ounce on the back of US and euro zone debt worries. As debt concerns in the US build, the dollar continues to weaken and the price of gold typically moves in the opposite direction to the precious metal. Some believe gold will continue its rally, while optimistic investors see ...




July 18, 2011

EU stress test results better than expected

by Kay Mitchell
”EU
The European Banking Authority (EBA) said eight out of 90 European banks failed the recent stress tests. The latest round of tests arose after last year’s failed to reveal the weakness among banks in Ireland and have been conducted to ensure banks have enough capital to cope with difficult economic situations, such as recession. The euro zone debt crisis has resulted in ...




July 15, 2011

EU stress test results due today

by Kay Mitchell
”EU
The European Banking Authority (EBA) will reveal the results of stress tests of 90 banks across Europe later today. The latest round of tests arose after last year’s failed to reveal the weakness among banks in Ireland and have been conducted to ensure banks have enough capital to cope with difficult economic situations, such as recession. However, according to a recent report ...




July 11, 2011

European stocks and euro down on contagion fears

by Kay Mitchell
”European
Fears for Italy becoming the next victim of the euro zone debt crisis sent stocks down today. The euro dived to a record low against the Swiss franc and fell to a four-month low against the Japanese yen. An emergency meeting took place today in Brussels as EU officials met to discuss the ongoing debt crisis in the euro zone after ...




April 14, 2011

Bank of Ireland’s losses less than expected

by Kay Mitchell
’Bank
The Bank of Ireland has today reported its losses narrowed - surprising analysts. The country’s biggest lender said net losses for 2010 totalled €609 million (£5.44 million) - analysts had expected at least double due to the problems in Ireland’s banking sector. The bank performed well under recent stress tests and its shares were up almost 4% in mid-morning trading today. The latest ...




April 2, 2011

Ireland suffers further downgrade on debt concerns

by Kay Mitchell
”Ireland
Standard & Poor's has cut Ireland’s credit rating by one notch to BBB+ from A- citing debt concerns but said further downgrades were now unlikely following recent stress tests. The ratings agency also said the outlook is stable and believes that the Irish economy is “set to gradually recover”. S&P; credit analyst Frank Gill comments: "The outlook is now stable, reflecting ...




April 1, 2011

Stress tests reveal Irish banks need €24bn

by Kay Mitchell
Stress tests reveal Irish banks need €24bn
It has been revealed that Ireland’s lenders will need an additional €24 billion (£21 billion) to weather the financial crisis. These were the findings of the stress tests conducted on Ireland’s banks - Allied Irish Banks, Bank of Ireland, Educational Building Society (EBS) and the Irish Life & Permanent. The latest stress tests were deemed necessary after last year’s tests failed ...




March 7, 2011

EU commences bank stress tests

by Kay Mitchell
”EU
The EU has commenced a new round of stress tests after last year’s failed to reveal the weakness among banks in Ireland. The latest tests, which will be headed up by the new European Banking Authority (EBA), are expected to be tougher and may include a liquidity test. However, regulators have yet to agree to a system, including whether to consider a Government ...




January 18, 2011

Euro zone in no hurry to increase rescue facility

by Kay Mitchell
Euro zone in no hurry to increase rescue facility
Following the two-day meeting of European finance ministers in Brussels, it has emerged that Governments are in no hurry to increase the European Financial Stability Facility (EFSF) - otherwise known as the rescue fund. Greece and Ireland have received emergency bailouts from the fund and there has been speculation that weaker euro zone nations will need to tap the ...




July 25, 2010

EU unveils results of bank stress tests

by Kay Mitchell
EU unveils results of bank stress tests
The results of the European banking stress tests have been published over the weekend with just over half a dozen of the 91 banks failing the tests. The Committee of European Banking Supervisors (CEBS) said seven of the banks failed the tests, which were conducted to ease increasing anxiety over Europe’s finance sector. The banks which failed included five Spanish banks - ...




July 23, 2010

Results of European bank stress tests to be unveiled today

by Kay Mitchell
Results of European bank stress tests to be unveiled today
The results of the European banking stress tests are to be published today. The stress tests were conducted to ease increasing anxiety over Europe’s finance sector. A total of 91 banks from across Europe have been tested and regulators have assessed whether banks are strong enough to cope with any future economic crises, or to establish whether they require ...




July 8, 2010

Euro zone interest rates on hold at 1%

by Kay Mitchell
Euro zone interest rates on hold at 1%
The European Central Bank (ECB) today elected to keep interest rates on hold at the historic low of 1% for the 14th consecutive month, as widely expected. Interest rates are expected to remain on hold until at least 2011, as a result of uneven growth and low inflation. The news comes after the Bank of England elected to keep interest rates ...




June 30, 2010

Stock markets recover as euro zone banks borrow less than expected

by Kay Mitchell
Stock markets recover as euro zone banks borrow less than expected
Global stock markets were rocked yesterday with the news that euro zone banks may face funding difficulties after it was revealed that the European Central Bank (ECB) would not be offering 12-month loans. A year ago, the ECB was forced to offer European banks 12-month loans at low interest rates to help them survive the financial crisis. ...




March 10, 2010

FSA to introduce tougher stress tests for banks

by Kay Mitchell
”FSA
City watchdog, the Financial Services Authority (FSA), has today announced banks will face stricter stress testing to ensure they can survive a further 4 years of falling economic growth and a 13.3% unemployment rate. Stress tests were introduced following the financial crisis to ensure that banks had sufficient capital to allow them to continue operating through dire economic conditions. The ...




November 3, 2009

FTSE 100 falls below 5,000 mark

by Kay Mitchell
FTSE 100 falls below 5,000 mark
The UK's FTSE 100 share index fell below the 5,000 mark today due to the overhaul of the UK’s banking sector. At 11:42 am, London’s FTSE 100 index was 111.56 points lower at 4,992.94, dipping below the 5,000 level for the first time since early October. Earlier today, the Treasury confirmed plans for Royal Bank of Scotland (RBS) and Lloyds Banking Group ...




May 20, 2009

US Treasury anticipates $25bn to be repaid by bailed out banks

by Kay Mitchell
US Treasury anticipates $25bn to be repaid by bailed out banks
US Treasury Secretary, Timothy Geithner, expects US banks to repay $25 billion (£16 billion) of bailout funds over the next 12 months. According to Mr Geithner, the money will be put towards helping other financial institutions in need of assistance. Mr Geithner told Congress it is imperative that the Government protect the remaining $123.7 billion in its $700 ...




May 12, 2009

European banks to undergo “stress tests”

by Kay Mitchell
”European
Marek Belka, the International Monetary Fund’s (IMF) Europe director, is calling for European banks to undergo "rigorous stress tests" like those carried out in US banks. According to Mr Belka, "Europe is facing the economic storm of a lifetime and it urgently needs to weatherproof its institutions." As a consequence, Mr Belka is urging European Governments to follow the lead of the ...




May 8, 2009

Ten US banks require $75bn to cover future losses

by Kay Mitchell
”Ten
Following the recent stress tests on 19 US banks, it has now been revealed that ten of the banks require a total of $74.6 billion (£50 billion) in extra capital to cover future losses. The stress tests were conducted by the Federal Reserve to establish which financial institutions are in a position to weather the downturn. While it was unveiled ...




May 7, 2009

Fed stress tests reveals US banks not at risk of insolvency

by Kay Mitchell
”Fed
Following the recent stress tests on 19 US banks, carried out to establish which financial institutions are in a position to weather the downturn, the Federal Reserve has revealed that no US banks are at risk of insolvency. However, the results have revealed that tens of billions of dollars are needed to strengthen balance sheets at several ...




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