Nearly one in five of the 130 banks examined by the European Central Bank failed stress test aimed at exposing whether they could withstand another crisis.
The European Central Bank says the lenders were more than $31 billion short of the reserves they would need to survive another serious shock. Nearly half the banks that failed were said to have taken measures this year to restore their health.
The unprecedented health checkup on the Eurozone biggest banks was carried out before the ECB assumes its new role next month as the bloc’s banking supervisor. CCTV America’s Jack Barton reports.