Here are more details in what looks like a response to the European bank stress tests, “A senior French official said the 16 banks regarded to be close to the threshold would now have to seek new funds immediately. Although there has been widespread speculation that French banks are seeking more capital, none is on the list. Other European officials said discussions were still under way. The move would affect mostly mid-tier banks. Seven are Spanish, two are from Germany, Greece and Portugal, and one each from Italy, Cyprus and Slovenia. The 16 institutions that are now the focus of attention ended up with core tier one capital ratios of 5-6%. The pass mark was 5%. The EBA had given those banks until Apr ’12 to implement plans to shore up their capital buffers.” They seem now to want it done before Apr ’12.
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