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Spain to Stress Test Banks Again by Oct to Focus on Seven Lenders

Spain will carry out stress tests of its banks by Oct with a focus on seven lenders - document showed after audit
The test gives Spain at least two more months to negotiate for direct cash injections into lenders as part of a European aid package
Economy Minister Luis de Guindos said direct European aid for the banks was still an option although EZ nations had initially ruled it out.
A first independent audit showed the sector needs up to 62 billion euros and said Spain's three biggest banks would not need extra capital even in a stressed scenario.
It also said immediate problems were limited to four banks: Bankia and CatalunyaCaixa, NovaGalicia and Banco de Valencia, all three already nationalized.

Published: 2012-06-22 18:41:00 UTC+00

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May 22 at 22:26 UTC