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Article: Banks hustle after investors to prop up balance sheets DEALTALK
- Article from:
- International Herald Tribune
- Article date:
- April 29, 2008
- Author:
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Daisy Ku Reuters
International Herald Tribune
04-29-2008
Banks hustle after investors to prop up balance sheets DEALTALK
Byline: Daisy Ku Reuters
Edition: 4
Section: FINANCE/BUSINESS
LONDON --
Facing greater scrutiny from regulators and higher losses on loan portfolios as the credit crunch hits the real economy, U.S. and European banks are scrambling to raise more than $50 billion to shore up their capital.
Since the outbreak of the financial crisis last summer, some $191 billion of capital has been raised to rebuild the balance sheets of U.S. and European banks, according to UBS research.
While the first round of fund-raising had been driven by sovereign wealth funds, a second round, set off ...