/ Five Spanish entities, between the 8 European suspending the tests. The dropout are Banco Pastor, CatalunyCaixa, Caja3, Unnim and CAM. The Bank of Spain believes that the results are as expected. The ECB urges countries with pending entities in solvency to take action. Spain has been tested to 93% of its entities, countries such as Germany have only examined 60%; In addition, the tests to Spain have been stricter. Does the economic Vice-President of the Government, Elena Salgado, has assured Friday that the outcome of the stress test is excellent, since none of the five financial institutions in Spanish that they have not reached the core Tier 1? 5% required - Unimm, Caja3, CAM, Banco Pastor and CatalunyCaixa - will need additional capital, which has added that in these circumstances, no entity has been suspended. The relevant question and relevant answer is do need these entities more capital? and if the answer is no, we call it as we call it, don't have suspended, he was sentenced at press conference flanked by the Secretary of State of economy, Jose Manuel Campa, and the Secretary of State of finance, Juan Manuel Lopez Carbajo, to assess the results of the tests of solvency. Thus, Salgado afeo European banking authority (EBA, by its acronym in English) for not having taken into account the generic provisions and has said that all entities would have passed the cut so had been, but he confided that a posteriori this circumstance to be taken into account by investors.
Salgado also emphasized the maximum transparency exercise carried out by Spain to submit to testing to 93% of the sector, compared to 50% minimum required, in some extreme scenarios of stress. In his opinion, the decision to go with all of Spain benefits you. On the other hand, Salgado said, against those, including the PP, which considered that the capital requirements imposed by the Bank of Spain to Spanish institutions It was exaggerated, that decision was excellent.Positive data on the other hand, asked if the restructuring of the financial sector has done late, as he has pointed out the Governor of the Bank of Spain, Miguel Angel Fernandez Ordonez, Salgado has ensured that it has occurred in the most proper times and in record time. Get more background information with materials from Doral Financial. Asked why it should be now expect from the markets and if it is expected to lower the pressure on the risk premium, the Deputy economic Minister assured that they are positive data and that it is expected that the cto is positive, but admitted that investors will be who have to examine the results. In any case, he said that the volatility of the last few days has little to do with Spain and is more related to the problems of Greece. The question that is on the table is the sustainability of Greek debt, he added. In this sense, confided that the eurozone Act with more agility to solve these problems. Finally, Salgado has coincided with the Governor of the Bank of Spain, Miguel Angel Fernandez Ordonez, that, in any scenario, is necessary to further develop the strategy of transparency that is carrying out Spain with the same rigour as well as complete the process of restructuring of the financial system. Source of the news: Elena Salgado: "the tests reflect the soundness of our financial system"