by Bill McBride on 7/06/2008 02:39:00 PM
Sunday, July 06, 2008
From MarketWatch: Swiss banks may need to raise $68 billion more
The newspaper Sonntag quoted a parliamentarian as saying the nation's Federal Banking Commission would require additional capital of about $39 billion for UBS, and $29 billion for Credit Suisse, according to summary by Agence-France Presse.OK, I'm excerpting from a MarketWatch story quoting a summary by Agence-France Presse of an article in Sonntag quoting a Swiss parliamentarian. I'm sure all the details are correct!
The banks would likely have to sell equity to raise the capital, thus diluting current shareholders' stake in the companies, the report said.
Posted by Bill McBride on 7/06/2008 02:39:00 PM