SOURCE: The Bedford Report

The Bedford Report

April 08, 2011 08:16 ET

European Banks Inch Closer to Stability

The Bedford Report Provides Analyst Research on Allied Irish Banks and Lloyd's Banking Group

NEW YORK, NY--(Marketwire - Apr 8, 2011) - After failing to uncover much of the extent of financial turmoil for banks in Ireland, European banking regulators are attempting to toughen stress tests on foreign lenders this year. The European Banking Authority (EBA) recently announced which types of capital it will accept and how much a bank must hold to pass the test. Last year, the European Union stress tests were criticized for not being stringent enough because lenders in the 27-nation region were shown by regulators to need only 3.5 billion Euros of new capital. The Bedford Report examines the outlook for Foreign Banks and provides research reports on Allied Irish Banks PLC (NYSE: AIB) and Lloyd's Banking Group PLC (NYSE: LYG). Access to the full company reports can be found at:

Earlier this week, Chairman Andrea Enria announced that the EBA will submit a definition of core capital valid for all banks in Europe and implement single supervision rules that are applied the same way across countries. Enria argues that the EU "can no longer live with 27 definitions of capital." If a country has less secure core capital, pressure on other nations would make them behave in the same way in order to ensure that their banks wouldn't be disadvantaged.

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Irish Banking stocks have moved higher in recent weeks after the Irish government announced plans for radically restructuring the banking sector by creating two major banks. Shares of Allied Irish Banks surged as much as 20 percent last week after The Central Bank of Ireland made the recommendation to pump an additional $34 billion into its banking sector as it again attempts to bring its three-year financial crisis to an end. The cash will come from Ireland's emergency EU-IMF credit line and adds to EUR 46.3B that the state has already pumped in.

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