ECB stress tests banks- Another positive indication

In an ideal, almost impossibly functional world, it might have been best if all Irish banks had passed the ECB post-crisis health check.

It is, however, a very reassuring measure of how very far we have come from the panic-stricken days when we were far, far more dependent on the kindness of strangers than was or might be again comfortable that four of Ireland’s main financial institutions — AIB, Bank of Ireland, Merrill Lynch, and Ulster Bank — all passed muster.

Only one Irish bank — Permanent TSB — failed the stress test designed to ensure lenders are as well positioned as is possible to withstand unforeseen economic shocks.