Big banks need extra $566bn, says Fitch

The world’s 29 largest global banks will need to raise an additional $566bn in new capital or shed about $5.5tn in assets by 2018 to meet the new tougher Basel III bank capital standards, a new study by Fitch Ratings published in May 2012 found.

The additional capital would represent a 23% increase in what the banks had at the end of 2011 and is roughly equivalent to three times their combined annual earnings.
The Fitch estimates were the first to try to measure the full impact of the Basel III bank reforms plus the extra capital surcharge for 'global systemically important financial institutions'.

ESO: Background information: Big banks failed to meet Basel III in 2011 http://www.europeansources.info/record/big-banks-failed-to-meet-basel-iii-in-2011/

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