Austrian banks need 15-18b euro cap by 2019
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