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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> Spanish banks

European banks on notice to fix capital shortfalls

Posted by RJ and Makay on Dec 08, 2011

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EurozoneEuropean banks must raise a total of 114.7 billion euros ($153.8 billion) in new capital by June 2012, the European Banking Authority (EBA) said today.  The capital is necessary to make the banks strong enough to withstand the eurozone debt crisis and restore investor confidence.  The cumulative amount needed is greater than the preliminary E106 billion EBA estimate for 71 banks issued in late October.