Europe’s banks would need to raise pound 114.7 billion ($152.7 billion) in fresh capital as part of measures introduced in response to the euro area’s sovereign-debt crisis, according to documents from the region’s banking regulator obtained by Bloomberg News.
German banks need pound 13.1 billion and Italian banks pound 15.4 billion in core Tier-I capital, the European Banking Authority said in a document. European lenders will have to raise a total of pound 8 billion more than previously estimated by the EBA in October. The EBA estimated two months ago that the region’s financial institutions needed pound 106 billion to reach the nine per cent core Tier 1 capital goal by mid-2012.
