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Ireland’s Permanent TSB Said to Fail ECB Test on Severe Case

Permanent TSB Group Holdings Plc, Ireland’s smallest state-owned bank, failed European Central Bank stress tests under the adverse scenario being assessed by regulators, according to a person with knowledge of the matter.

Permanent TSB, based in Dublin, faces a capital shortfall between 700 million euros ($885 million) and 800 million euros under an extreme case, according to analysts at Investec Plc and Merrion Capital. It passed the two other elements of the ECB assessment, the asset quality review and base case scenario, said the person, who asked not to be identified because the matter is private.