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Friday 20.10.2017 | Name days: Leonīda, Leonīds

EBA: European banks are currently in their strongest position

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The recapitalization measures that were realized by the European Banking Authority helped increase the total banking capital by 94.4 billion EUR – thereby significantly exceeding the 76 billion EUR shortage in December 2011, states the published EBA report.

Also, in accordance with EBA recommendations, most banks on the list are nearing the 1st level sufficiency index of 9%, Financial and Capital Market Commission reports.

Compliance with EBA recommendations and capital increase is mainly reached through executed measures that had an impact on capital (Retained earnings, new equity and liabilities management), that makes up a 71.6 billion EUR large amount or 95% from the total shortage and 76% from the amount of commonly executed measures.

Meanwhile, specific banks that do not comply with the level of capital sufficiency recommended by EBA by attracting additional capital or by performing correction measures, are being consulted on how to complete these recommendations.

«Our objective in strengthening bank capital foundations is going according to the plan. European banks are currently in a strong position, which should be used for issuing loans and gradually restoring market funding accessibility. Significant challenges persist – to exit the crisis and perform normative standards that were confirmed by the G20. This was a necessary and important step in organizing bank balance across the whole of the EU,»- says Chairman of EBA Andea Enria.

Latvia is involved in this EBA organized bank recapitalization measure indirectly – cross-border banking groups on the list are assessed on the level of consolidated groups, which means that some daughter companies and branches are also included on this cross-border groups list. EBA recapitalization measure also relates to bank groups that operate in Latvia: Swedbank, SEB, Nordea, DnB and Unicredit.

Ref: 103.109.109.2544


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