rumours Flying That Some Spanish Banks May Have Failed The Stress Test

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We’re going to get several of these reports in the next few hours.

This one focuses on Spain, specifically the Cajas — the regional, non-listed savings banks — that have been the subject of so much attention.

El Pais, via Dealbook, reports that a number will have failed under the scenario of a worsening economy.

Remember, it’s all about the various scenarios: a worsening economy is just one. Others may include the possibility of a sovereign defau

In fact, moreso than the specific banks that fail, the thinking is that the whole thing can fail if the stress tests are deemed to be too opaque, with little data given regarding how they were performed, and what scenarios were being taken into

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