EU Banks must find €108bn in new capital

Discussion in 'Wall St. News' started by ASusilovic, Oct 23, 2011.

  1. Europe’s big banks will be forced to find €108bn ($150bn) of fresh capital over the next six to nine months under a deal to strengthen the banking system agreed by European Union finance ministers.

    After ten hours of gruelling talks in Brussels, ministers from all 27 EU member states endorsed an estimate of the banking sector’s capital shortfall and made tentative steps towards agreeing on the state backstops to help fill it.