Large Banks Had $640B Shortfall For New Basel Targets

Law360, New York (April 12, 2012, 9:38 PM EDT) -- Large international banks need roughly €485.6 billion ($639.6 billion) to meet stringent new Basel capital goals to maintain a core capital of 7 percent of their assets, the Basel committee said Thursday.

A survey of 103 large banks that hold reserves of more than €3 billion found they had an average core capital ratio of 7.1 percent, meeting the stringent target of the Basel III international banking standards. But it was a goal that not all of the banks had met by the end of June...
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