It's very interesting to observe the current 'signs of recovery' in the market. On the 23rd of July The Committee of European Banking Supervisors (CEBS) announced the results of an EU-wide stress test of the banking system.
The overall objective of the 2010 exercise was to provide policy information for assessing the resilience of the EU banking system to possible adverse economic developments and to assess the ability of banks in the exercise to absorb possible shocks on credit and market risks, including sovereign risks.
The results were, in particular, encouraging for the 4 major UK banks: Lloyds, RBS, HSBC and Barclays as they all passed the tests with flying colours. The tests were performed by the FSA on behalf of the CEBS.
Of the 4 banks the results are more relevant to the 2 nationalised banks...Lloyds and RBS...and not surprisingly in day were flat for the FTSE they both performed remarkably well...with Lloyds and RBS both shares prices increasing over 8% today!! RBS at 50p and Lloyds at 70p are looking for me as the best buys of 2010...by a long way!!
The overall objective of the 2010 exercise was to provide policy information for assessing the resilience of the EU banking system to possible adverse economic developments and to assess the ability of banks in the exercise to absorb possible shocks on credit and market risks, including sovereign risks.
The results were, in particular, encouraging for the 4 major UK banks: Lloyds, RBS, HSBC and Barclays as they all passed the tests with flying colours. The tests were performed by the FSA on behalf of the CEBS.
Of the 4 banks the results are more relevant to the 2 nationalised banks...Lloyds and RBS...and not surprisingly in day were flat for the FTSE they both performed remarkably well...with Lloyds and RBS both shares prices increasing over 8% today!! RBS at 50p and Lloyds at 70p are looking for me as the best buys of 2010...by a long way!!
No comments:
Post a Comment