The world's 29 largest banks will need to raise an extra $566B in new capital by 2018 to meet...

|By:, SA News Editor

The world's 29 largest banks will need to raise an extra $566B in new capital by 2018 to meet tougher Basel III standards, according to a Fitch study. The extra capital would be a 23% increase on what banks held at the end of 2011, or roughly equivalent to three times their combined annual earnings. U.S. banks will be hit particularly hard by the relative capital requirements for risky activities.