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European Banking Authority: Austrian Banks Need € 2.9bn
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Published: October 27, 2011; 10:59 ♦ (Vindobona)
Banks are required to establish a buffer such that the Core Tier 1 capital ratio reaches 9%. A major part of the capital needs is attributable to Volksbank Group.
European Banking Authority: Austrian Banks Need € 2.9bn / Picture: © Vindobona.org
In light of the substantial increase in systemic risk triggered by the sovereign debt crisis in the euro area, the European Banking Authority (EBA) has designed a capital package which aims at providing a further capital buffer for the EU banking system.
Banks are required to strengthen their capital positions by building up a temporary capital buffer against sovereign debt…
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