REPORT: 25 Banks Are About To Fail Europe's Biggest Ever Tests

25 European banks are about to fail the ECB's comprehensive assessment, according to Bloomberg. it's the biggest test of this sort ever done by the European Central Bank. The full results are announced Sunday.

Bloomberg say about 10 of these banks will have to plug capital shortfalls. It's not clear which of these are the same banks that Reuters reported would fail stress tests on Wednesday.

The ECB says it won't comment on speculation, and doesn't finalise the results of the tests until its governing council has approved them this weekend, but the assessments have now been going on for months and it's just days from released.

It's a little muddled because on the same day that the ECB releases the results of their comprehensive assessment, the European Banking Authority will release the results of its stress tests. But the inclusion of the 130 figure shows that this is the ECB's assessment.

Markets are already reacting. It's not hard to see where the news broke on the euro-dollar exchange rate:

Bloomberg

Peter Tchir at Brean Capital thinks it's not something to get too worried about: