EU to banks: Raise capital

The EBA said European banks needed €114.7bn in new capital by next June

Thursday 8 December 2011 at 11:58

European banks must come up with a total of €114.7bn in new capital by next June, the European Banking Authority said on Thursday, as regulators took their latest stab at restoring confidence in the Continent's beleaguered banking industry.

The capital shortfalls are spread across more than 30 banks in 12 countries. A total of 71 banks were subjected to the EBA's exam.