Reuters
July 15, 2011
A health check of European banks is expected to show on Friday that around 10 lenders need more capital to withstand a prolonged recession, as criticism grew that Europe has been too slow to repair the industry.
The International Monetary Fund warned Europe it is taking too long to rebuild its banking system, and the threat that the Greek debt crisis could spread to bigger countries such as Spain and Italy has rattled investors and dragged bank shares to a two-year low.
Europe's so-called "stress test" will make 90 lenders reveal for the first time their profit forecasts, a breakdown of their sovereign bond holdings and funding costs, and will force the weakest to recapitalize.
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