Watch VideoPlay Video
Finance officials from Greece, Spain and Germany say they are not surprised by the stress test results.
Of the six Greek banks which took part in the stress tests, only the state-controlled ATE bank failed.
Greek Finance Minister George Papaconstantinou is satisfied with the result, expressing confidence in his country's banking sector. He says it can tackle even more difficult conditions than the current ones.
The result is also viewed positively by Greek analysts, as the Greek banking sector is under enormous pressure since the outbreak of the country's debt crisis late last year.
ATE bank has been given a deadline by the Greek government until the end of this year to implement a viable plan to face challenges.
German officials are also not surprised by the test result, which shows nationalized lender Hypo Real Estate Holding failing.
Franz-Christoph Zeitler, V. Pres., Deutsche Bundesbank, said, "With the exception of one bank, all institutions are above the six per cent benchmark and are therefore more than 150 per cent above the regulatory minimum. Nine institutes are at twice the regulatory minimum. This result does not surprise me because it is along the lines of other data which we have been analyzing for some time."
Fourteen German banks took the stress tests, and Hypo Real Estate was the only one to fail.
Five unlisted Spanish savings banks also failed. The country's central bank Governor said the test is not a forecast.
Miguel Angel Fernandez Ordonez, Governor of Bank of Spain, said, "What we are doing here is not forecasting, we are providing proof of resistance to see if under normal and foreseeable conditions, the financial system is solid enough. This is the goal of this exercise. "
Officials may have responded, but the market has still to give its view.
The results were announced after European financial markets closed so it will be next week before the full reaction to the test is felt.