“Portuguese banks, already undercapitalised and loaded with bad debt, are bracing for even more heavy losses from Lisbon’s so far unsuccessful attempts to sell Novo Banco.  Estimates of the potential bill facing banks, which finance the resolution fund that bailed out Novo Banco in 2014, range from €2.9bn to €3.9bn. Some bankers are even doubtful that the rescued lender will attract any acceptable offers, leading to its possible break-up or liquidation.  In a recent report, Barclays estimated that Portuguese lenders could need up to €7.5bn to resolve a ‘systemic banking crisis’ that was bringing the country under ‘close market scrutiny’.”

http://www.zerohedge.com/news/2016-07-24/first-italy-now-portuguese-banks-unexpectedly-need-taxpayer-bailout

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“Meanwhile in Italy, nearly the entire Italian banking system is rapidly sliding into insolvency.  Italian banks are sitting on over 360 billion euros in bad loans right now and are in desperate need of a massive bailout.  IMF calculations show that Italian banks’ capital levels are among the lowest in the world, just ahead of Bangladesh.  Spanish banks have been scrambling to raise billions in capital to cover persistent losses that still haven’t healed from the last crisis.  In Greece, over 35% of all loans in the banking system are classified as ‘non-performing.  The ratio of non-performing loans has actually been increasing for several years since the country’s supposed bailout.”

http://www.valuewalk.com/2016/07/deutsche-bank-scare/

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