Systemic banks in Denmark only narrowly passed the latest round of stress tests, prompting the central bank to warn of the dangers of funding problems should a severe crisis strike.

Most systemic Danish banks have excess capital adequacy even in the most severe scenario of the test, though a few fell short of add-on buffer requirements. No bank fell into the “red” zone of capital below the minimum requirement.

“Banks should expect their access to external funding in the financial markets may