Aus­trian banks need 15-18b euro cap by 2019

The Pak Banker - - Front Page -

VI­ENNA: Aus­trian banks need up to 18 bil­lion eu­ros ($23.6 bil­lion) by 2019 to ful­fill new Basel III cap­i­tal rules, a cen­tral bank source said on Thurs­day, con­firm­ing pro­jec­tions from Septem­ber.

The sum in­cludes 5.4 bil­lion eu­ros in cap­i­tal that the state pro­vided at the height of the fi­nan­cial cri­sis. Around 10 bil­lion eu­ros of the to­tal rep­re­sents Core Tier 1 cap­i­tal, the Aus­trian Na­tional Bank source said. The source, who de­clined to be iden­ti­fied, said some banks may try to "front­load" their ef­forts to strengthen their bal­ance sheets be­fore 2019. -PB News

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