IMF says US and European banks need to raise $875 billion in capital by 2010; Global financial sectors face losses of about $4.1 trillion between 2007 and 2010
Apr 21st, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
US and European banks need to raise $875 billion in capital by 2010 to recapitalise banks to level similar to the pre-crisis years -- and twice that amount to match the level of the mid-1990s, the International Monetary Fund (IMF) has estimated. The global financial sectors face losses of about $4.1 trillion between 2007 and 2010, the Fund says in its latest Global Financial Stability Report (GFSR), the twice-yearly review of the world's financial sector
