Froyo, AKA Android 2.2, Released

Froyo has just been released on the Nexus One, All Things Digital reports. This is good news, I'm looking forward to my update.

Effects of European Stress?

European regulators have largely given passing grades to European Banks. Only 7 of the 91 banks surveyed were ordered to raise capital, although the amount to be raised was a paltry 3.5 billion Euros, or roughly 4.5 million Dollars. Compared to a year ago, when the US conducted its own stress tests, the figure was $75B. Moreover, a much higher percentage of the banks, 10 of the 19 banks tested, were ordered to raise capital. Still, the European tests seemed to set a higher bar for some of the metrics employed. For example, tier 1 ratios, a ratio of cash, preferred and common stock, long-term bonds and other core assets to all other riskier assets, were set at a higher bar. US stress tests demanded a 4% tier one ratio and the European ones required a 6% ratio.

However, there were some complaints that came along with the stress tests. One big complaint was the stress tests did not value the hypothetical situation in which a European country defaulted on its debt. Investors still remain concerned by the recent complications in Greece and the ongoing real estate malaise in Spain. This may not be a problem, however, since the stress tests revealed much of the exposure that banks have to sovereign debt. This just means that the markets will have to draw its own conclusions to where the regulators didn't.

More on this Topic:

Despite Flaws, Stress Tests May Satisfy Markets - NYT

European Banks Rally in U.S. Markets - WSJ