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Geece's main banks need to mobilise $15b after stress test 

November 2, 2015

Bloomberg News, The Times of Man

Greece’s four main banks must raise €14.4 billion ($15.9 billion) in fresh capital, the European Central Bank (ECB) said after conducting a balance-sheet assessment and stress tests.

An asset-quality review resulted in valuation adjustments of €9.2 billion at National Bank of Greece, Piraeus Bank, Eurobank Ergasias and Alpha Bank, the Frankfurt-based central bank said in a statement on Saturday.mobileAd

In the stress tests, the banks’ capital gap amounted to €14.4 billion under a simulated crisis, and €4.4 billion under the baseline scenario. The four banks will have to submit recapitalisation plans to the ECB’s supervisory arm by November 6.

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