European banks suggested to raise capital according to EBA guidelines

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Source: Bloomberg
© Scanpix/AFP

European watchdogs advised banks to avoid reducing lending or artificially inflating capital. European financials are required to strengthen their core capital ratios at 9% of risk weighted assets by the summer 2012. However, European Banking Authority said the money should be raised from retained earnings, lower bonuses and investors.

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Fri, 09 Dec 2011 07:53:43 GMT

EU officials keep working on rescue plan

1.       On Thursday night European leaders worked on plan how to stop debt crisis that has been extending for more than two years and created much doubt on the stability of Euro. Officials discussed the fiscal impact aimed at restoring bondholder confidence and allowing ECB and IMF to provide contributions to the rescue fund. However, no consensus has yet been reached. 

Fri, 09 Dec 2011 07:44:51 GMT

US stocks fall amid European summit

US shares started to decline in afternoon trade after Dow Jones disclosed details of draft plan, however, stock indexes plunged even further as Reuters reported that Germany opposed several measures in draft proposal. Standard & Poor's 500 sank 2.1% or 26.66 points at 1,234.35 whereas Dow Jones Industrial Average lost 1.6% or 198.67 points to 11,997.70. Nasdaq Composite traded down 2% or 52.38 points to 2,596.38. 

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