HSH Nordbank successfully completes stress test
Hamburg/Kiel, July 23, 2010 - HSH Nordbank has successfully completed the European stress test stipulated by the Committee of European Banking Supervisors (CEBS).
The test was based on different macroeconomic trends up to the end of 2011: the so-called benchmark scenario assumes moderate economic growth. The key stress scenario (adverse scenario) simulates a significant two-year recession. The third stage (additional sovereign shock on the adverse scenario) also includes problems on the markets for government bonds.
Even under the biggest stress assumption that was tested HSH Nordbank’s Tier 1 capital ratio of 9.7 percent considerably exceeds the levels required by the CEBS. Including market-risk positions, the Tier 1 capital ratio in the approved financial statements of HSH Nordbank for fiscal 2009 stood at 10.5 percent.
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