ECONOMY - FINANCE - BUSINESS / Banks

European banks will have to raise €1.2 billion in capital to fully comply with Basel III agreement

Brussels, 24/10/2022 (Agence Europe)

To fully comply with the Basel III agreement on prudential banking requirements by 2028, European banks will need “€1.2 billion” in Tier 1 capital, said the Chair of the European Banking Authority (EBA), José Manuel Campa, on Monday 24 October.

An increase such as this would correspond to a “15%” increase in current prudential requirements, he told a hearing of the European Parliament’s Committee on Economic and Monetary Affairs.

Mr Campa also made reference to the...