Standard & Poor's ratings agency
said Monday that following last week's results of European
Central Bank (ECB) stress tests "the majority" of European banks
have enough of a capital cushion to face an adverse scenario.
Many banks have made progress in dealing with their cash
weakness, S&P said. The stress tests were carried out on 51
banks, representing 70% of banking operations across Europe.
However the stress tests also showed "the potential
weakness of some banks and some banking systems" including
Italy's Monte dei Paschi di Siena (MPS) and UniCredit banks.
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