EBA says to give final estimate of EU bank requirements

7th December 2011, Comments 0 comments

The European Banking Authority, the EU's financial regulator, said that it will release Thursday its final estimates of how much more capital banks need to raise.

The publication will coincide with the first day of a crucial EU summit in Brussels, where European leaders will seek to resolve the eurozone's long-running debt crisis.

"The EBA will publish the formal recommendation and the final aggregate results of the recapitalisation exercise at 1800 CET (1700 GMT) on 8 December 2011," it said in a brief statement on Wednesday.

"On that same day, banks will publish their individual results on their respective websites at 1800 CET and national supervisory authorities will re-publish them between 1801 and 1830.

"Finally, the EBA will re-publish on its website banks' own results at 1830 CET."

The EU's London-based financial watchdog had said in October that banks needed an extra 106 billion euros ($142 billion) to meet new capital requirements under a deal to tackle the eurozone crisis.

© 2011 AFP

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