Czech banking sector is sufficiently resilient to adverse developments as the banks capital adequacy would stay above the regulatory minimum of 8% even in a very improbable stress scenario, the central banks August 2011 stress tests showed. In the worst projected scenario, called Recession, several banks would need to raise capital by a total of CZK 13.4bn, accounting for less than 0.4% of GDP. This scenario assumes a drop in economic activity as a result of a renewed recession in the Czech Republics main trading partners, an escalation of the euro area financial crisis and increased financial market volatility. The banking sectors stability is based on its high capital adequacy ratio of 15.9% as of end-June 2011. |
Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more
The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more
The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more