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Economy

Moody’s Says Stress Tests Results Positive for Greek Banks

ATHENS — The results of ECB's stress tests on Greek banks were positive, Moody's said in a report. The credit rating agency said that the adequacy of supervisory capital will allow Greek banks to implement their restructuring plans, which will reduce the remaining stock of non-performing loans, improving profitability. At the same time, the results of the stress test round showed that Greek banks were gradually returning to normality.

Moody's also noted that all adjusted capital adequacy rates in the adverse scenario, combined with the methodology of the stress tests showed that Greek banks can continue the implementation of restructuring plans aiming to improve profitability to 10 pct and to reduce non-performing exposure to 5 pct.

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New Evacuations for Communities Near California Forest Fire

JACKSON, Calif. — Evacuation orders were expanded Tuesday for remote California communities near a wildfire that may have been sparked by fireworks or a barbecue on the Fourth of July in a mountainous region that's a top tourism destination.

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