22 July 2010

SLOVENIA:1ST UPDATE/ Nova Ljubljanska Banka Passes Stress Test But Will Seek New Capital.

BLOOM/  The Guardian UK. website was wrong yesterday to report that the Nova Ljubljanska Banka would fail a stress test. EU regulators found Slovenia’s largest financial services company has sufficient capital to withstand a recession and a sovereign crisis. But the bank noted that “Even though the results of the test aren’t below the 6% threshold, they show the bank needs a capital boost”and will raise up to 600 million euros ($769 million) to cover its liabilities in the next three years.