ECB says banks face further losses of $283bn

Report of a warning contained in the Euopean Central Bank's 'Financial Stability Review', June 2009 saysing that banks in the 16-nation eurozone face $283bn (£174bn) of further losses in 2009-10 as the recession forces them to write off bad loans.

The bi-annual Financial Stability Review provides an overview of the possible sources of risk and vulnerability to financial stability in the euro area.

ECB: Financial Stability Review, June 2009 http://www.ecb.int/pub/pdf/other/financialstabilityreview200906en.pdf?0270b8726c294d8fc06fc95b9d1f44f6

ECB: Press Release, 15.6.09: Financial Stability Review June 2009 http://www.ecb.int/press/pr/date/2009/html/pr090615.en.html

EBRD Blog, 31.7.09: Stress testing of banks and policy implications http://www.ebrdblog.com/2009/07/31/stress-testing-of-banks-and-policy-implications/

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