Elderfield Says Irish Banks Will Need More Capital, Boersen Says

Irish Central Bank Deputy Governor Matthew Elderfield said the country’s banks may need to raise up to 4 billion euros ($5 billion) in additional capital in the next six years, Germany’s Boersen-Zeitung reported, citing an interview.

“In the medium term they will certainly need more capital, simply because of stricter international capital requirements,” Elderfield is quoted as saying. “In the next five to six years, Irish banks may need a further 3 to 4 billion euros.”

To contact the reporter on this story: Joseph de Weck in Frankfurt at jdeweck@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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