EU banks' stress-test capital shortfall largely raised -document
BRUSSELS, July 9 |
BRUSSELS, July 9 (Reuters) - A capital shortfall of 114.7 billion euros ($141 billion)identified in European Union bank stress tests has been largely raised from private and public sources, according to a document prepared for EU finance ministers.
The document, obtained by Reuters, was prepared by officials for EU finance ministers ahead of their meeting in Brussels on Tuesday as well as the official release of the stress-test results on July 11.
It said repairing banks' balance sheets was continuing in some countries, beyond the stress tests.
"According to preliminary results, the 114.7 billion euro capital shortfall identified in December 2011 has been largely raised from private sources and, where necessary, public backstops were activated," the document said.
"The detailed report of EBA (European Banking Authority) containing the final EBA endorsement of individual results will be issued in September," it added.
"Beyond the EBA exercise, in some countries the repair of banks' balance sheets continues and is progressing." ($1 = 0.8130 euros) (Reporting By John O'Donnell; editing by Rex Merrifield)
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