LONDON: The top 42 banks in the European Union would need an extra 70.4 billion euros (US$95 billion) of capital to comply with new rules that take full effect in 2019, the bloc's banking watchdog said on Wednesday.
Markets and regulators have been putting pressure on banks to move early to comply with the new global Basel III accord being phased in, to dispel any doubts about their ability to thrive and encourage investors to buy their bonds and shares.
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