Yes all those who have money tied up in major British banks will find out if their banks have passed the Committee of European Banking Supervisors (CEBS) stress testing which will release the overall results tomorrow.
Most of the 91 banks tested are expected to pass — but analysts here say some must fail for the tests to have any credibility. Failure won’t necessarily mean the banks are bust, but that they will need to raise money from investors or governments.
I can now tell the Blogship that Lloyds & Barclays are rumoured to of passed. However RBS is much more difficult to call. Expect modest rises on Lloyds,Barclays. As for RBS i can’t get any confirmation either way but my gut feeling is that they should scrape through it. There will be some of the European banking institutions(Spain,Greece & Portugal) that will fail as i can’t see 91 banks ALL receiving a clean bill of health.
Good Luck tomorrow.