Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
7th February 2012
EBA says vast majority of bank capital raising plans OK
The European Banking Authority issued a statement on Monday stating that 'the overwhelming majority' of the plans submitted by the Systemically Important Financial Institutions (SIFI = Too Big To Fail) to ensure they met the new capital requirements were satisfactory and 'in line with the spirit and the letter of the EBA recommendations'. The banks had until January 31st to submit how they would ensure they met the new capital requirements by June 30th this year.
The EBA was prompted to issue the statement following reports in the Financial Times and other media over the weekend that this was not the case and that the EBA was unhappy with many of the submissions. The EBA referred to these stories as 'inaccurate and misleading'. The EBA meets later this week to start the process of formally deciding whether each bank's submission is satisfactory.
Monday saw the announcement of capital raising initiatives by a number of European banks. Some of these are covered in separate articles.