Banks may need fresh bailouts: European Banks €114.7Billion Shortfall

December 8th, 20114:30 pm @

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Banks may need fresh bailouts: European Banks €114.7Billion Shortfall

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Fresh fears amid todays Eurozone talks.

The European Banking Authority (EBA) sees the capital shortfall at European banks at 114.7 billion euros ($154 billion) following a fresh stress test, two financial sources told Reuters on Thursday.

The overall short fall after including a sovereign capital buffer is 13.1 billion euros for German banks, 7.3 billion euros for French banks, 26.2 billion euros for Spanish banks, and 15.4 billion euros for the Italian banks, the sources said.

The banks have time until Jan. 20 to present their plans for recapitalisation and need to fulfill the capital requirements by end-June, they said.

More to follow….