Draghi Sees European Banks Raising Capital Within a Year

European Central Bank governing council member Mario Draghi said major European banks are raising capital or will do so within a year, bringing them into compliance with new capital requirements.

“The landscape in Europe is divided between banks that can raise capital and the banks that cannot raise capital,” Draghi told journalists in Washington. “The banks that can raise capital are doing so and will be doing so within a year. They’re doing so in a way that will place them in compliance” with Basel III rules, he said.