– Monte Paschi Fails European “Stress Test” Meant To Restore Confidence In Europe’s Struggling Banks:
Moments ago, the European Banking Authority published the 2016 bank stress test results, whose purpose – as every other year – is to inspire confidence in Europe’s struggling banks; it differs from a market-based assessment of bank stress – that particular “test” can be seen by observing the stock prices of such giant banks as Deutsche Bank and Credit Suisse, both of which recently hit all time lows. As previewed yesterday, Italy’s 3rd largest, and most insolvent bank, Banca Monte di Siena was the worst performer in European regulators’ stress tests, and the only lender to have its capital wiped out in the exam.
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