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2010-07-21

Domedagen II “If HRE is the only German bank that fails, that completely discredits the tests – not just for Germany but for the whole of Europe”.


Eurointelligence skriver i dag stresstesterna, det som gör att, som jag skrev i går, domedagen blir på fredag.



- The FT got the first leaks from the stress tests, which seem to confirm the worst expectations: far fewer banks than expected have failed the test. German banks, including Landesbanken, indicated in private that they had passed the test, following similar indications in recent days from regulators and politicians in France and Italy. 


- The only German bank among the 14 tested that has so far failed the test is HRE, previously known as Hypo Real Estate. Investors and analysts say that unless there are a credible number of failures among the 91 institutions being stress tested, then the whole exercise risks backfiring. 


- One analyst said “If HRE is the only German bank that fails, that completely discredits the tests,  not just for Germany but for the whole of Europe”.  


Lex /FT/ put it to the point saying that the stress tests need to do more than confirm that an already failed German bank is a failed German bank.


Eurointelligence

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