Banks Boosted Capital by $500 Billion Since 2009, Carney Says

Large international banks raised about half a trillion dollars in fresh capital since 2009 and are moving closer to complying with global capital rules, said Mark Carney, chairman of the Financial Stability Board.

Carney, who is the governor of the Bank of England, said that the capital raising has been “encouraging” though “uneven,” in a press conference in London today.

Global banks had core capital reserves averaging about 9 percent of their risk-weighted assets at the end of 2012, above the 7 percent required under the updated Basel standards, the Basel Committee on Banking Supervision said in a report last week.

All jurisdictions needed to comply with tougher capital rules by 2019, Carney told journalists. The FSB brings together regulators and central bankers from the Group of 20 nations.

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