Europe’s largest banks will need to find an extra 70.4 billion euros ($95 billion) of capital to comply with the tough banking rules due to be implemented in 2019, according to a report by the region’s banking regulator.
But the European Union’s (EU) 42 leading lenders are on track to meet the capital requirements of Basel III – a set of banking reform measures – ahead of schedule, the European Banking Authority (EBA) said on Wednesday.
The 70.4 billion euros shortfall as of December last year was 29.1 billion less than the deficit recorded six months earlier, as banks stump up their capital reserves.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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