Holey Grail; European Banks  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 400 no. 8753 (Oct. 2011), page 72-74.
Topik: Economic Conditions; Monetary Policy; Banking Industry; Trends; Regulation of Financial Institutions

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.68 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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The fire raging in Europe's financial system is growing fiercer by the day. Banks across the region have been unable to sell any long-term unsecured bonds since early July. Short-term markets have also been closing to some banks. A few large corporations prescient enough to have their own banking licences are depositing their cash directly with the European Central Bank rather than entrusting it to banks. An obvious step to douse the flames would be to recapitalise European banks. Yet by how much and with what capital? Global regulations are already forcing banks to plump up their cushions significantly. Nomura reckons that simply getting banks to comply with the new Basel 3 rules, plus an additional surcharge on globally important banks, could leave European lenders, Britain's included, needing to raise more than EUR 100 billion ($136 billion). In theory banks have until 2019 to raise this amount, and much of it could come from profits over the next few years. But investors are impatient and are pressing banks to reach those levels sooner.

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