RBS Shares Tumble After Admitting Stress Test “Error”

Dear Mr. Draghi, we are very sorry but we messed up on the ‘stress test’. The Royal Bank of Scotland shares are sliding after it admitted that it made an error – not in favor the bank – in its stress test calculations…

*RBS: CET1 STRESS TEST RATIOS OVERSTATED ON CALCULATION ERROR

Under the corrected Adverse Scenario, RBS capital cushion was slashed from 6.7% to 5.7% (just barely above the 5.5% minimum). Still – we should all trust the stress tests as ‘proof’ how strong Europe’s banking system is. What a farce!!

 




via Zero Hedge http://ift.tt/1talsON Tyler Durden

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