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IMF Urges EU Banks To Raise Capital
Keywords:
The IMF's managing director, Christine Lagarde, pointed to the urgent need to recapitalize European banks in September 2011. European banks face potential losses of 120 billion euros for Belgium, Spain and Italy, 60 billion euros for Greece, 20 billion euros for Ireland and Portugal, and 100 billion euros for other banking exposure, for a total of 300 billion euros, according to the International Monetary Fund. In the absence of recapitalization there could be further damage to EU economies from restricted lending by banks. IMF estimates show that deteriorating credit conditions could damage growth in the eurozone countries by 3.5 percentage points, and in the U.S. by 2.2 percentage points, creating another recession.
Cyprus Popular Bank (Laiki Bank) and the Bank of Cyprus 2006-2013- the path leading to the EU bailout of 2013
07/16/2011
Cyprus Popular Bank and the Bank of Cyprus passed EU stress test in 2010 and 2011, resulting in the banks issuing dividends and increased their holdings of Greece's bonds even as the Greece faced a financial crisis in 2010. The losses from Greece bonds totalled 4.3 billion euros for the two banks in 2013, leading to the closing of Laiki Bank and the downsizing of the Bank of Cyprus under an EU bailout. The bank also made other risky investments in Greece, with the chief risk officer of Laiki Bank taking on more risks in 2010-2011 even as other European banks were reducing their investments in Greece.
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Europe Fails Another Stress Test
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Wall Street Journal 09/22/2011
Piraeus Bankâs Michalis Sallas Reaches the Top in Greece
New York Times 06/10/2013
Wall Street Journal 07/04/2015
Wall Street Journal 03/28/2013
Cyprus Capital Controls Come Years After They Were Needed
New York Times 03/28/2013
Funding stress at European banks 2011-2012
09/22/2011
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IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
UniCredit Posts Massive Net Loss on Loan, Acquisition Write-downs
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Wall Street Journal 11/17/2011
European Banks Shuffle Bonds to Bolster Capital
New York Times 12/08/2011
Europe's Banks Retreat From the East
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Why European Banks Are Sacrificing Growth
BusinessWeek 12/15/2011
Negotiations at the G-20 in Pittsburgh on capital requirements for banks and limits on bank bonuses.
02/04/2009
The Pittsburgh G-20 talks will address these issues with European and Americans coming up with some compromise.
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IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
Rochesterâs Survival Lessons
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Wall Street Bonuses Are an Outrage
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U.K. Bankers to Wait Seven Years for Bonuses
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The U.K.'s New Bonus Claw Back Rules
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Equity sales by European banks in 2011-2013 to meet new Basel III standards
01/21/2010
Grouped Articles
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
The Battle Over Bank Rules at Basel III
BusinessWeek 05/27/2010
Wall Street Journal 09/13/2010
Basel Rules Unlikely to Force Capital Raising
Wall Street Journal 09/14/2010
Wall Street Journal 09/14/2010
After Basel, the Banks Are Not Safer
BusinessWeek 09/15/2010
European banks, committed collateral, and ability to issue unsecured bonds in 2012-2013
09/22/2011
The Bank of England and other experts believe the collateral used for loans from the ECB, could limit the ability of European banks to issue unsecured bonds. This could crimp lending.
Grouped Articles
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Europe's Banks Face Pressure on Collateral
Wall Street Journal 12/29/2011
European Banks: Here's a Loan to Buy Our Loans
BusinessWeek 11/23/2011
BusinessWeek 11/10/2011
The urgency for recapitalization of European banks in 2011-2015
07/13/2011
EU banks face potential losses of 300 billion euros from troubled EU countries. 120 billion euros from Italy, Spain and Belgium, 60 billion euros from Greece, 20 billion euros from Ireland and Portugal, and $100 billion euros from other banking exposure, accordig to the IMF. IMF managing director, Christine Lagarde, has pointed to the urgent need for recapitalization of European banks,urgently because restricted lending by EU banks in the absence of recapitalization could further damage the economies of EU countries.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Bank of Italy Inspecting Top Lenders' Books
Wall Street Journal 07/30/2013
Central Bank Details Somber State of Europe’s Banking System
New York Times 10/13/2014
Wall Street Journal 07/04/2015
The Banker Who Is No Longer Welcome in Restaurants
Wall Street Journal 01/27/2016
Italy Agrees on Fund to Support Battered Lenders
Wall Street Journal 04/12/2016
Europe's Banks.
07/09/2010
Issues of European banks, including recapitalization.
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Europe's Elusive Stash of Cash
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Crisis Awaits Worldâs Banks as Trillions Come Due
New York Times 07/11/2010
European banks: The last idealists
Economist 12/11/2010
French Banks Warned on Their Greek Debt
Wall Street Journal 06/16/2011
Wall Street Journal 07/13/2011
U.S. Bank Stocks Fall on Anxiety About Europe
New York Times 08/18/2011
European banks and the impact of potential defaults or country exits from the euro
12/11/2010
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European banks: The last idealists
Economist 12/11/2010
Wall Street Journal 07/13/2011
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
Wall Street Journal 09/15/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Banks Conduct Greek 'Fire Drills'
Wall Street Journal 11/04/2011
Bloomberg Business Week's Peter Coy calls for debt forgiveness- creditor haircuts for sovereign debt in Europe, and bank writedowns of debt in the U.S. housing market
08/10/2011
Peter Coy of Bloomberg Business Week calls for debt forgiveness in the August 2011 issue of Business Week. Stretching out the debt issues without writedowns says Coy, only leads to austerity programs, stagnant growth and drags the issues out over many years. Better solutions can be found by starting anew with writedowns now and arrangements to make this possible, and returning to growth sooner. What about moral hazard? There is moral hazard in letting the banks bear no cost for reckless lending decisions, they are as likely to repeat this behaviour says Coy, as Greece or the underwater mortgage borrower in the U.S., if they did not have to bear the consequences of their decisions.
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How Righteousness Killed the World Economy
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Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
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For Europe’s Sake, Keep Greece in the Eurozone
New York Times 07/06/2015
How to Undo the Damage in Greece
New York Times 07/06/2015
Personalities Clashing Over How to Handle New Greek Bailout
New York Times 07/23/2015
BusinessWeek 08/10/2011
Fears that Basel III and European Banking Authority E.U. Stress Tests may not adequately reflect the risks on banks balance sheets.
01/21/2010
The situation after bailout of Irish banks in November 2010 by the EU. The Irish banks had passed European stress tests. Portuguese and Spanish banks may face a similar situation.
Grouped Articles
Wall Street Journal 07/16/2011
Europe Fails Another Stress Test
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The Battle Over Bank Rules at Basel III
BusinessWeek 05/27/2010
Wall Street Journal 09/13/2010
Basel Rules Unlikely to Force Capital Raising
Wall Street Journal 09/14/2010
Wall Street Journal 09/14/2010
France's banks and losses from expansion in Greece
06/22/2011
French banks BNP Paribas, Societe Generale, Credit Agricole and other banks expanded in Greece. This is now turning out to be a burden.
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Wall Street Journal 06/23/2011
Derivatives Cloud the Possible Fallout From a Greek Default
New York Times 06/22/2011
A Guide to the New Deal in Athens: How a 'Selective Default' Works
Wall Street Journal 07/22/2011
Wall Street Journal 07/22/2011
Fear, Rumors Pummel Europe Bank Shares
Wall Street Journal 08/11/2011
Bans Imposed on Some European Short Selling
Wall Street Journal 08/12/2011
Credit Agricole performance
06/16/2011
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French Banks Warned on Their Greek Debt
Wall Street Journal 06/16/2011
Bans Imposed on Some European Short Selling
Wall Street Journal 08/12/2011
French Bank Survives Greece Hit
Wall Street Journal 08/26/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Banks Conduct Greek 'Fire Drills'
Wall Street Journal 11/04/2011
Crédit Agricole Takes Greece Hit
Wall Street Journal 11/11/2011
BNP Paribas
06/16/2011
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Revenue Slumps at BNP Paribas, but Profit Rises on Cost-Cutting
New York Times 10/31/2013
BNP Paribas Hit by $1.1 Billion Legal Provision
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BNP Paribas Aims for Double-Digit Earnings Growth
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U.S. Wants Firings at France's BNP
Wall Street Journal 05/31/2014
Possible U.S. Fines Increase Tensions at BNP Paribas
Wall Street Journal 06/05/2014
EU stress tests for banks in 2011
03/18/2011
Grouped Articles
Wall Street Journal 07/16/2011
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
Banks, Regulators Still Jostling Over EU Stress Tests
Wall Street Journal 07/14/2011
Europe Needs Lesson in Stress Management
Wall Street Journal 07/14/2011
The 2010 and 2011 EU stress tests that failed of Laiki Bank and Bank of Cyprus- origins of the banking crisis in Cyprus
07/16/2011
The two Cyprus banks passed the EU's 2010 stress tests, and passed them again in 2011, going on to give out dividends and increase their exposure to Greece, even as Greece faced a deepening financial crisis. The two banks increased their holdings of Greece's bonds by $1 billion in 2010, according to EU regulators, and took on more risks. The EU stress tests looked at how the banks would do in deteriorating economic conditions but did not consider the possibility of losses from sovereign government bonds.
Grouped Articles
Wall Street Journal 07/16/2011
Europe Fails Another Stress Test
Wall Street Journal 07/16/2011
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Piraeus Bankâs Michalis Sallas Reaches the Top in Greece
New York Times 06/10/2013
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
Turkey, Hungary, Poland and Romania, and asset sales by European banks to raise capital in Nov. 2011
03/14/2009
Eastern European countries that would see declining growth as a result of the eurozone crisis, as banks in Europe raise capital through asset sales of sovereign bonds.
Grouped Articles
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Turkish banks: The lure of the Bosphorus
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Poland Defends Economy, Sees Euro Link This Year
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Hungary Drops Internet Tax Plan After Public Outcry
New York Times 10/31/2014
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
Eastern Europe Vulnerable in Debt Crisis
Wall Street Journal 11/11/2011
European Banking Authority 2011 tests for sovereign bond holdings at European banks
09/14/2011
The tests released in Dec. 2011 show how much the banks of each country need to come up with to meet Tier 1 core capital requirements of 9%.
Grouped Articles
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
EU Tells Lenders to Bulk Up Capital Cushions
Wall Street Journal 12/09/2011
Why European Banks Are Sacrificing Growth
BusinessWeek 12/15/2011
BusinessWeek 11/10/2011
Raising Capital: A Love Story?
Wall Street Journal 02/14/2012
European companies and increased borrowing in the corporate-bond market in 2011-2012
09/22/2011
European companies financing from corporate bond-markets exceeded financing from banks in 2011.
Grouped Articles
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Wall Street Journal 04/10/2012
European Banking Authority E.U. Stress tests for banks in 2010 and 2011
10/02/2009
Stress tests for banks in Europe in July 2010 and in 2011.
Grouped Articles
Wall Street Journal 07/16/2011
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
EU's Top Banks Pass Stress Tests
Wall Street Journal 10/02/2009
Document Contradicts EU Bank Statement
Wall Street Journal 10/06/2009
Wall Street Journal 10/03/2009
Moody's Questions Spanish Banks
Wall Street Journal 10/14/2009
U.S. money market funds, European banks and global credit markets
06/22/2011
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Wall Street Journal 06/22/2011
Wall Street Journal 06/22/2011
Wall Street Journal 06/27/2011
In a Greek Default, Higher Risk for Money Market Funds
New York Times 06/28/2011
There's No Greek Mayhem in U.S. Money-Market Funds
Wall Street Journal 06/30/2011
Wall Street Journal 07/02/2011
The ECB and buying of government bonds of troubled eurozone countries
08/07/2011
The purchases of Italian and Spanish bonds by the European Central Bank in addition to its holdings of 75 billion euros of Portuguese, Greek and Irish bonds creates additional balance sheet risk for the ECB. Losses in the value of collateral could wipe out the 10 billion euro capital base of the ECB. The pressing need to give resources and new powers to the European Financial Stability Facility so that this agency could do the bond buying in the place of the ECB.
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German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
ECB’s Coeuré Sends Strong Signal on Asset Purchases
Wall Street Journal 12/18/2014
European Markets Jolted by ECB Proposal
Wall Street Journal 01/21/2015
Quiet Start to Central Bank Bond-Buying Program for the Eurozone
New York Times 03/09/2015
Wall Street Journal 03/10/2015
Wall Street Journal 08/08/2011
Britain, Sweden, Spain and Basel III capital reserve requirements for banks
01/21/2010
Britain, Sweden and Spain oppose the dilution of capital reserve requirements for European banks through a broad definition of what constitutes Tier 1 capital. Germany, France and some other European countries favor a loose definition of Tier 1 capital. The systemic risks of lower reserve requirements and loose definitions of Tier 1 capital in a global banking crisis and the danger to taxpayers.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
The Battle Over Bank Rules at Basel III
BusinessWeek 05/27/2010
Swiss Politicians Push for Stricter Bank Capital Rules
Wall Street Journal 11/04/2013
Wall Street Journal 09/13/2010
Basel Rules Unlikely to Force Capital Raising
Wall Street Journal 09/14/2010
Wall Street Journal 09/14/2010
France's banks
06/16/2011
Grouped Articles
French Banks Warned on Their Greek Debt
Wall Street Journal 06/16/2011
Wall Street Journal 06/16/2011
Bans Imposed on Some European Short Selling
Wall Street Journal 08/12/2011
Economist 08/13/2011
U.S. Bank Stocks Fall on Anxiety About Europe
New York Times 08/18/2011
Woes at French Banks Signal a Broader Crisis
Wall Street Journal 09/12/2011
The Wall Street Journal's reporting in 2011-2012 on France's banks, BNP Paribas, Credit Agricole and Societe Generale
09/16/2011
Grouped Articles
Dollars to the European Rescue
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IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
German Bankers Argue Against Capital Plans
Wall Street Journal 10/14/2011
European Banks Face Deadline to Raise Capital Levels
New York Times 10/13/2011
French Banks Absorb New Hit From Greek Debts
Wall Street Journal 10/15/2011
Banks Conduct Greek 'Fire Drills'
Wall Street Journal 11/04/2011
Societe Generale performance
02/02/2008
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Societe Generale Reports Profit in Fourth Quarter
New York Times 02/12/2014
How to Lose $7.2 Billion: A Trader's Tale
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A Trader’s Secrets, a Bank’s Missteps
New York Times 02/05/2008
Société Générale Is Fitter, Not Fixed
Wall Street Journal 08/02/2014
Fear, Rumors Pummel Europe Bank Shares
Wall Street Journal 08/11/2011
Bans Imposed on Some European Short Selling
Wall Street Journal 08/12/2011
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