European Banks Reach Crisis Capital Targets, EU Agency Says

Law360, New York (July 11, 2012, 2:27 PM EDT) -- The majority of European banks have built up enough capital to survive the continent's debt crisis and meet new requirements, but a great deal of work remains to resolve the situation, the European Banking Authority said Wednesday.

In a preliminary report, the EBA said that 27 banks that it had surveyed had raised €94.4 billion ($115.6 billion) in Core Tier 1 capital since December, when the continent's banking regulator identified a €76 billion shortfall in banks' capital levels. With the additional capital, most of Europe's banks...
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