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Sunday, October 23, 2011

Report: European Banks need to raise €108bn in new capital

by Calculated Risk on 10/23/2011 08:44:00 AM

The final details will be released on Wednesday. This is just one part of the agreement (details on Greece and the EFSF also need to be worked out).

From the Financial Times: Banks must find €108bn in new capital

According to two people involved with the negotiations, the European Banking Authority’s final emergency stress test identified a total of €108bn to be raised by Europe’s banks ...
excerpt with permission
From the WSJ: Bank Recapitalizations May Reach €108 Billion
European governments likely will seal an agreement to set aside between €107 billion-€108 billion ($150.01 billion) to boost the cash reserves of banks weakened by their exposure to sovereign debt ... there would be no final agreement on the capital ratio and the size of the recapitalization until the full crisis package is worked out. The deadline for that is a European summit Wednesday.
Schedule for Week of Oct 23rd
Summary for Week ending Oct 21st