7/16/2010

Leading officials said Italian and UK banks are not expected to need fresh capital because of stress tests being conducted on European banks. "The tests on Italian banks will obviously present diverse results, but I am confident that they will show that the capital resources of the single banks are adequate," said Mario Draghi, governor of the Bank of Italy and a member of the European Central Bank. Meanwhile, UK Chancellor George Osborne said British banks are not expected to need government aid after the release of test results.

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Reuters, Bloomberg

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