By Huw Jones LONDON (Reuters) - European Union banks already largely meet tougher global capital rules to bolster defences against economic crises and ...
By Huw Jones LONDON - European Union banks already largely meet tougher global capital rules to bolster defences against economic crises and now only need to find another 600 million euros - European Union banks already largely meet tougher global capital rules to bolster defences against economic crises and now only need to find another 600 million euros ahead of a 2028 deadline, the bloc's banking watchdog said on Tuesday.
The European Banking Authority on Tuesday published the results of its monitoring exercise of 157 banks across the EU at the end of 2022, which looked at how they were implementing Basel rules. Basel has a 2028 deadline for implementing its remaining rules, which are set to be rolled out in the EU from January 2025. But EU policymakers have proposed longer phase-ins for some of them, and temporary waivers for others, which would cut the core capital shortfall to an estimated 240 million euros, EBA said.
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