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Stress-Test Results Delayed on Cajas Concern, El Economista Says
03 June 2011 @ 17:48

The European Banking Authority delayed the publication of bank stress-test results because of concerns about Spain’s savings banks, El Economista said, citing unidentified people in the financial industry.

The EBA, which is conducting the stress tests, has expressed its “amazement” to the Bank of Spain that all the Spanish lenders in the tests would pass, the newspaper said.

Spain’s central bank has asked for public aid to savings banks, or cajas, to be included in the stress-test calculations, even though the money hasn’t been disbursed, El Economista said. The EBA has doubts about the consequences of publishing numbers that are too optimistic, the newspaper said.

A call and a voicemail left by Bloomberg News for Franca Rosa Congiu, a spokeswoman for the EBA in London, weren’t immediately answered.

Source: Bloomberg

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