Banks would have required an additional 602 billion euros ($795bn) in capital at 2009-end to meet new Basel III rules to ensure they could cope with any fresh financial crisis, regulators said yesterday.
If international rules on raising top quality capital from four per cent to 7pc of risk assets were applied to banks at 2009-end, "group one banks in aggregate would have had a shortfall of 577bn euros," the Basel committee on banking supervision said in a study on 263 banks from 23 member jurisdictions.
"Group two banks would have required an additional 25bn euros."
Group one includes big international banks that have core Tier 1 capital in excess of 3bn euros and group two includes others.
