European Banks Facing Capital Push After OK On Tough New Rules

After regulators approved some tough new rules put forward by the G20 nations that could force many European institutions to raise over €10bn in the coming months. Based on these new rules banks will need to hold extra capital in case of financial shocks. The committee has also agreed to new hard limits on the amount a bank can borrow, without exception this is no more than 25 times assets. Definite proposals are expected to be out by the end of 2009, while the end of 2010 should see an adjustment after an impact assessment is conducted.
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