1. Irish bank 'fails stress test'

  • Bloomberg is reporting that Permanent TSB, an Irish bank, failed a stress test carried out by the European Central Bank. 
  • Results of the ECB tests are due to be announced on Sunday morning; banks informed in advance. **earlier version of this article inaccurately stated that the results were due on Sunday night**
  • Analysts told Bloomberg that TSB faces a capital shortfall of between €700m-800m.
  • Permanent TSB failed the adverse scenario part of the stress test; passed two other aspects (Bloomberg).