French banks' pass stress test with wide margin

Resilience shown by French banks, which passed by a wide margin

All four French banks that underwent EU-wide stress tests on their resilience to severe economic shocks passed with a wide margin and won't need to raise fresh capital, thanks to the diversity of their assets, the Bank of France said late on Friday.

BNP Paribas, Société Générale, Crédit Agricole, the country's biggest banks by market value, and mutual lender Groupe BPCE were tested to check whether they have enough capital to cushion losses under several scenarios, including a double-dip recession in Europe and renewed problems with sovereign debt.

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