Seven out of 91 European banks failed the region’s long-awaited stress tests and may need to raise more than 3.5 billion euros ($4.5 billion) of additional capital, the Committee of European Banking Supervisors said Friday. Five of the banks that failed were in Spain, with Germany’s Hypo Real Estate and Greece’s ATEBank also unable to maintain a Tier 1 capital ratio of more than 6% under the most severe scenario tested. All the other German lenders including the troubled landesbanks passed the test, along with all of Europe’s huge listed banks.
Posts Tagged ‘European Banks’
Seven European banks fail stress tests
July 24th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Capital Ratio, Committee Of European Banking Supervisors, Europe, European Banking, European Banks, Friday Five, Germany, Greece, Hypo Real Estate, Lenders, Spain, Stress Tests, Tier 1 Capital 
Comments OffSpanish banks are in favor of making stress tests of European banks public,
June 16th, 2010 Before You Invest Spanish banks are in favor of making stress tests of European banks public, senior bankers in the country said Wednesday.Persistent worries about the solvency of European banks have led to speculation that governments in the European Union may question for the results of the ongoing stress tests for banks to be published
Posted in Finance Fraud Tags: European Banks, European Union, Governments, Led, Solvency, Spanish Banks, Speculation, Stress Tests, Worries Comments OffHedge funds under investigation for driving down the value of the euro
March 4th, 2010 Before You Invest The US Justice Department has launched an investigation into several hedge funds over allegations they have been working together in an attempt to lower the value of the euro.People close to the matter told the Wall Street Journal that the department has sent a letter to several funds, including well-known names such as Soros Fund Management and Paulson & Co, asking them to keep hold of their records relating to trading on the euro.SAC Capital Advisers and Greenlight Capital have also received the communication from the Justice Department, it was reported.Last week, an article by the paper stated that hedge fund members had met up at a so-called “thoughts dinner” in which the falling value of the euro was discussed.Following the meeting, a research note was leaked which summarized the comments made by one SAC portfolio manager who was in attendance.”The presenter’s way to play this is to small the euro,” said the report of the comments.”Basically the stock market right now is effectively trading on the euro … it’s one of the most liquid instruments you can trade.”The unnamed man also predicted that the euro could end up trading at between $0.90 and $1.20 – below its current level of $1.36.But, insiders told the Wall Street Journal that it may be hard to prove whether such information sharing constitutes an act of collusion.”Charges relating to collusion on Wall Street have been a rarity because of the difficulty of proving that firms intentionally sought to act together and acted nefariously,” said the paper.The inquiry comes during a period in which the euro has fallen ten per cent in value since December.Earlier this week, an unnamed strategist told the Financial Times that hedge funds were profiting from bets on European banks cutting their exposure to the Greek economy.
Posted in Finance Fraud Tags: Collusion, European Banks, Financial Times, Fund Members, Greek Economy, Greenlight Capital, Hedge Fund, Information Sharing, Insiders, Paulson, Portfolio Manager, Rarity, Sac Capital Advisers, Soros Fund Management, Stock Market, Strategist, Unnamed Man, Us Justice Department, Value Of The Euro, Wall Street Journal Comments OffHedge funds profiting from Greek debt crisis
March 1st, 2010 Before You Invest Hedge funds are making money on the Greek debt crisis by betting on European banks cutting their exposure to the country’s economy, industry insiders have said.It is estimated by Barclays that about 95 per cent of Greece’s debts are held by banks operating in the eurozone.Speaking to the Financial Times, one unnamed strategist at a UK-based hedge fund said that several firms had successfully engaged in the practice as banks look to limit their risk.”There are a group of funds, perhaps three or four, that have played this as a huge sovereign basis trade and made a lot,” it was said.Last weekend, it was reported that private banks in Germany may start buying Greek debt, backed by guarantees from the country’s government on such investments.Last week, Fitch Ratings downgraded the credit rating of four top Greek banks, including National Bank of Greece and EFG Eurobank, in response to the economic problems afflicting the country.
Posted in Finance Fraud Tags: Bank Of Greece, Banks In Germany, Barclays, Basis Trade, Credit Rating, Debt Crisis, Economic Problems, Economy Industry, Eurobank, European Banks, Eurozone, Financial Times, Fitch Ratings, Greek Banks, Hedge Fund, Hedge Funds, Industry Insiders, National Bank Of Greece, Private Banks, Strategist Comments OffMiami Money Manager Arrested in K1 Probe
November 1st, 2009 Before You Invest MIAMI, Oct. 29 (UPI) — A Miami money manager tied to the German hedge-fund firm K1 Group was arrested on money-laundering charges after a sting operation, U.S. prosecutors said.Stefan R. Seuss, a German national living in Miami, was charged with conspiracy and faces up to 20 years in prison on the charge, said the U.S.
Posted in Finance Fraud Tags: Barclays, Barclays Plc, Bnp Paribas, Criminal Investigation, Dietrich, European Banks, Financial Adviser, Geuder, Hedge Fund, Jpmorgan Chase, Kiener, Law Enforcement Officials, Miami Herald, Money Laundering Charges, Money Manager, R Meyer, Societe Generale, State Prosecutor, Sting Operation, Upi No Comments »Hacked: ING Belgium, Dexia and HSBC France Websites – news.softpedia.com -
September 11th, 2009 Before You Invest Websites belonging to several large European banks, such as ING, Dexia and HSBC, have been hacked through SQL injection. These proof-of-concept attacks reveal poor security practices on behalf of institutions that people entrust with their life savings.The security issues have been learned by Romanian self-confessed grey hat hacker “Unu,” who has received a honest amount of media attention this year due to the high-profile nature of his targets.
Posted in Finance Fraud Tags: Dexia, European Banks, Hat Hacker, Hsbc, Ing, Media Attention, Orange France, Parliament, Poor Security, Profile Nature, Proof Of Concept, Recent Discoveries, Security Issues, Security Practices, Shtml, Softpedia, Telegraph, Uk Parliament, Unu, Vulnerabilities No Comments »Hacked: ING Belgium, Dexia and HSBC France Websites – news.softpedia.com -
September 11th, 2009 Before You Invest Websites belonging to several large European banks, such as ING, Dexia and HSBC, have been hacked through SQL injection. These proof-of-concept attacks reveal poor security practices on behalf of institutions that people entrust with their life savings.The security issues have been learned by Romanian self-confessed grey hat hacker “Unu,” who has received a honest amount of media attention this year due to the high-profile nature of his targets.
Posted in Finance Fraud Tags: Dexia, European Banks, Hat Hacker, Hsbc, Ing, Media Attention, Orange France, Parliament, Poor Security, Profile Nature, Proof Of Concept, Recent Discoveries, Security Issues, Security Practices, Shtml, Softpedia, Telegraph, Uk Parliament, Unu, Vulnerabilities No Comments »
