‘Banks need to raise cash’

The world’s top banks need to step up efforts to raise cash or hold on to more profits after regulators estimated they would have had a shortfall of €374bn had new capital rules been in place last year.

‘Banks need to raise cash’

Banks have in recent years been bolstering capital ahead of the new regime, designed to create a bigger safety net to protect taxpayers from having to bail out banks and avoid a repeat of the 2007-09 financial crisis.

The new rules will be phased in from January and be fully in place in 2019 but investors and regulators want banks to implement them early.

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