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European Banks Need To Raise Up To $141 Billion Says Goldman Sachs

Goldman Sachs says the European banks sector needs to raise about EUR 60 billion to 90 billion ($94 to $141 billion), or withhold one year of dividends, to reach an aggregate Tier I ratio of 9% a level achieved by

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Goldman Sachs says the European banks sector needs to raise about EUR 60 billion to 90 billion ($94 to $141 billion), or withhold one year of dividends, to reach an aggregate Tier I ratio of 9% – a level achieved by European banks that have recapitalised recently, Reuters reports.

Analysts says they do not expect the mounting writedowns per se to trigger additional capital calls at this point. Instead, they believe that regulatory pressures and a sharp turn in the European credit cycle are the two main causes for concern for bank investors.

For the full story visit the Reuters website athttp://www.reuters.com/article/businessNews/idUSBNG18856620080704

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