European banks have a long way to go to meet Basel III, EBA says

04/4/2012 | Bloomberg · Financial Times (tiered subscription model)

The European Banking Authority said that if Basel III capital rules had been in effect in June, more than half of the Continent's largest 48 banks would not have met the required Tier 1 capital ratio. "Given these results, a significant effort by banks to fulfill the risk-based capital requirements is expected," the EBA said. Basel III is set to be phased in during the next several years.

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