In the 9m reports the Tier 1 (9.4%) is improving due to Net profit contribution, more deposits let NPL etc. Asset sales will also help. But the real impact might be the devaluation of the Turkish Lira (if they left it unhedged).
It's funny if it wasn't so funny. But it's almost as if this extended uncertainty over the release of the stress tests is killing the banks. The recession was in 2008 and banks are slowly recovering but these Tier 1 requirements can easily put them in a downward trend again. What if Troika believes that 10 bn is a more accurate figure? Banks or no longer ran by businessmen, but by bureacrats and technocrats.
When are they going to release these results, who is served by postponing it for so long? I don't feel that these overpaid civil servants have any sense of urgency in this matter.
What is clear is this huge volatility ahead (either longs or shorts will be completely slaughtered after test results).
They finally get what they want, they destroy the banks.....then all goes back to radical left socialism and then Greece will stop all payments. Europe will have nothing. Shareholders will be wiped out. Greece will go back to Africa.