SOURCE: The Bedford Report

The Bedford Report

April 08, 2011 08:16 ET

European Regulators Seek to Restore Banking Stability

The Bedford Report Provides Analyst Research on The Bank of Ireland & National Bank of Greece

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 The Governor and Company of the Bank of Ireland (NYSE: IRE) and National Bank of Greece SA (NYSE: NBG). 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. The Bank of Ireland provides a range of banking, life insurance and other financial services to customers in Ireland and United Kingdom. Services include branch banking, personal and business loans, loan insurance, mortgages, foreign exchange, correspondent banking, credit cards and stockbroking.

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