EU banks forced to consider losses on bonds in stress tests; BoI cuts State’s maximum stake to 69%
Jun 24th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Banking Authority has updated its bank stress tests to include the risk of losses on banks’ holdings of sovereign debt from crisis- hit European Union countries, The Wall Street Journal reports. Meanwhile, Bank of Ireland (BoI) cut the maximum stake the Government might take in the bank to 69% after almost three quarters of subordinated bondholders took up shares in a debt-for-equity-or-cash offer.