Critical Issues
EU Interbank Stress: ECB Delays Exit Strategy to at least January 2011
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EU Stress Test Results Revisited: What if Sovereign Haircuts are Included?
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Spanish Banks: Cajas to Issue Equity to the Public, Large Banks to Tap International Markets
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France and Germany Call for Ban on "Naked" CDS; U.S. Regulates Them Instead
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Will Rising Loan-Losses Threaten the Creditworthiness of German Banks?
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UK Bank Stress Testing: Gauging Exposure to Dubai
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Stress Tests In Europe: Watch European Banks and Commercial Property Exposure to Dubai
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Hybrid EU Bank Capital: Upcoming Rules Spur Banks to Design New Bonds
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Background:
RGE expects total write-downs on securities and loans among eurozone banks to be around US$900 billion to US$1.2 trillion, including losses incurred abroad. Therefore, given the roughly US$350 billion in write-downs already recognized as of the end of June 2009 (according to IMF estimates), RGE expects losses of more than US$500 billion to materialize over the next few quarters. These loss estimates are broadly in line with the IMF’s October 2009 Global Financial Stability Report (GFSR) estimates of US$814 billion — “a useful guidance for the lower bound of potential loan losses in the euro area” in the IMF's own words.
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Associated Readings
News
MarketWatch
Jun 22, 2010
Fitch downgrades BNP Paribas' rating to 'AA-'
Blogs
FT Alphaville
Jun 23, 2010
Credit Agricole names its Greek pain
Analysis
ECB
May 31, 2010
Eurozone Financial Stability Review June 2010
Blogs
RGE Analyst's EconoMonitor
Oct 06, 2009
Eurozone Bank Loss Estimates - Overview
Analysis
CEBS Committee of European Banking Supervisors
Oct 04, 2009
Cebs’s Press Release On The Results Of The Eu-Wide Stress Testing Exercise
Analysis
IMF
Oct 02, 2009
Global Financial Stability Report Navigating the Financial Challenges Ahead
Analysis
European Central Bank
Aug 28, 2009
EU Banking sector stability - August 2009
Analysis
InvestorsInsight
Jul 19, 2009
Europe on the Brink / And Then There Was Leverage
News
Financial Times
Patrick Jenkins
Jun 16, 2009
S&P report casts gloom on lenders in Europe
News
Bloomberg
Meera Louis
Jun 11, 2009
Bank Rescue Costs EU States $5.3 Trillion, More Than German GDP
Analysis
Credit Agricole
May 07, 2009
Banking systems: fluctuat nec mergitur
Analysis
Goldman Sachs (scroll down for english)
Natacha Valla
Feb 12, 2009
Stress testing Euro-zone banks | An ECB roadmap for quantitative easing
Blogs
Eurointelligence
Apr 27, 2009
German toxic waste totals over €800bn
Analysis
Fitch Ratings (free registration)
Apr 17, 2009
Major Western European Banks’ Exposure to Eastern Europe and the CIS: Downside Risk Contained?
Analysis
Danske Bank
Frank Øland Hansen
Feb 24, 2009
Euro area: Exposure to the crisis in Central and Eastern Europe
