Arab Today, arab today europe banking giants reveal recapitalization costs
Last Updated : GMT 06:11:27
Arab Today, arab today
Arab Today, arab today

Europe banking giants reveal recapitalization costs

Arab Today, arab today

Arab Today, arab today Europe banking giants reveal recapitalization costs

Moscow - Ria Novosti

Major European banks have revealed approximate costs of their proposed recapitalization under new European requirements, introduced to secure banks if the debt crisis worsens. Leaders of EU countries who gathered for an emergency summit in Brussels earlier this week set June 30 as a deadline for major EU banks to accumulate 9 percent in core reserves after sovereign debt writedowns. According to EBA estimates, banks will need to accumulate more than 106 billion euro ($150 billion) to meet the target. The move is designed to enhance the stability of the region\'s banking system and will help it to stay afloat if financial situation worsens significantly, including a possible default of a troubled euro zone country. According to EBA estimates, banks of Greece will require 30 billion euro ($42.4 billion), Spanish banks - 26.2 billion euro ($37 billion), Italian banks - 14.8 billion euro ($21 billion), French banks - 8.8 billion euro ($12.5 billion). German lenders will have to amass 5.2 billion euro ($7.4 billion) and banks in the United Kingdom will need no funds at all. Banks said on their website they plan to seek state support only as a last resort, and will try to raise the funds on the market. Spain\'s largest bank Santander will require almost 15 billion euro ($21.2 billion), while BBVA will have to raise funds of 7.1 billion euro ($10 billion). France\'s three largest banks - BNP Paribas, Societe Generale and BPCE Group will need 8.8 billion euro ($12.5 billion) in total. Though Italy\'s major lender Intesa Sanpaolo will not require to raise capital, other major banks - Unicredit and the world\'s oldest bank Monte dei Paschi di Siena will need 7.4 billion euro ($10.5 billion) and 3.1 billion euro ($4.4 billion), respectively. Germany\'s largest bank, Deutsche Bank, will require 1.2 billion euro ($1.7 billion) and said it had no plans to seek aid from the government. Another lender, Commerzbank, will require almost 3 billion euro ($4.2 billion) for recapitalization. Austria\'s Raiffeisen will need 1.9 billion euro ($2.7 billion) to meet new requirements.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today europe banking giants reveal recapitalization costs Arab Today, arab today europe banking giants reveal recapitalization costs

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today europe banking giants reveal recapitalization costs Arab Today, arab today europe banking giants reveal recapitalization costs

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday