8 banks fail Europe's stress test

CNN News

European regulators said 8 banks will need 2.5 billion euros ($3.5 billion) to survive a serious downturn, and that 16 other lenders passbed but should raise more money.

Of the failing banks -- those whose so-called core capital fell below 5% -- five are from HHhhhSpain, two from Greece* and one from Austria, according to results released by euro area banking watchdogs. Of those that passed but could stand to bulk up, with core capital of 5%-6%, nearly half -- seven -- are from Spain.
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