European banks make progress in push to 9% Tier 1 ratio

02/14/2012 | New York Times (tiered subscription model), The

European banks will find out early next month if their plans to raise approximately €98 billion to shore up their balance sheets will be enough to satisfy regulators. Much of the capital, which is 26% more than what regulators had asked for, would be raised via rights offerings and reductions in banks’ risk-weighted assets, among other moves. Regulators have tasked the banks with increasing their core Tier 1 ratios to 9% by June.

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New York Times (tiered subscription model), The

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