On average, core capital of euro area banks after stress stood at 9.9%, up from 8.8% in the same exercise two years ago. Underlying the results is the strong build-up of capital buffers in recent years resulting in a better condition at the starting point of the exercise (end 2017).
I would however like to note that, while the adverse scenario was generally more adverse for European economies than in the 2016 exercise, it did not capture events which have become prominent through the course of the year, notably developments in emerging markets and sovereign spreads. Taking these into account would add on to overall capital depletion.