3.2. Financial sector Financial stability The capitalisation of - TopicsExpress



          

3.2. Financial sector Financial stability The capitalisation of the banki ng sector improved in 2011 (i .e. as in June 2011), as the average Tier 1 capital of Austrian banks increased to 10.3 % compared to 10.0 % at the end of 2010. Following the call by the European Council on 27 October 2011 for a temporary increase in bank capital up to 9 % core Tier 1, in December 2011 the European Banking Authority (EBA) reco mmended that three Austrian institutions (Erste Group, Raiffeisen and Volksbank) should further in crease their capital. Individual compliance plans are now being implemented. The total capital increase needed according to the EBA was EUR 3.9 billion. Erste Bank recently a nnounced that its financial results in the last quarter of 2011 had enabled it to re duce the capital amount requested by the EBA from EUR 743 milli on to EUR 166 million
Posted on: Fri, 05 Jul 2013 12:19:58 +0000

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