EU banks could get six months to boost capital

European banks could get up to six months to strengthen their capital under plans aimed at halting the region's debt crisis, giving them time to raise funds privately in the hope of averting another damaging credit crunch.

EU officials said on Thursday that weak banks may get this time to bolster their balance sheets after a rapid health check concluded.

Euro zone leaders are insisting that banks recapitalise, in an attempt to halt the euro zone crisis and shore up investor confidence.

"A three- to six-month deadline is being considered," said one EU official, speaking on condition of anonymity, saying that banks were being encouraged to tap private investors or sell assets rather than turn to governments. "No decision has been taken."

Read Full Article from Reuters

- Posted: 2011-10-13 11:36:08

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