MADRID (AP) — The Spanish government announced Friday the result of financial health-checks on its 14 main credit institutions. Seven of them, representing 38 percent of the country's banking system's credit portfolio, failed the so-called stress tests and need to pad their capital cushion to cope with economic adversity.
The government said the total capital needs of those seven banks amount to €59.3 billion ($76.3 billion).
This is a list of the banks which failed the test and the amount of extra capital they need to make them safe, according to the test's yardsticks. The first four banks listed have been nationalized to prevent them collapsing.
— Bankia-BFA: €24.7 billion ($31.9 billion)
— Catalunyabank: €10.8 billion ($14 billion)
— NovaGalicia Banco: €7.2 billion ($9.3 billion)
— Banco de Valencia: €3.5 billion ($4.5 billion)
— Popular: €3.2 billion ($4.1 billion)
— BMN: €2.2 billion ($2.8 billion)
— Ibercaja-Caja3-Liberbank: €2.1 billion ($2.7 billion)
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