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Europe crisis raises banks risk by $410 billion: IMF
Europe's debt crisis has increased the risk exposure of banks in the region by 300 billion euros ($410 billion) and they need to recapitalize to ensure they can weather potential losses, the International Monetary Fund said on Wednesday. In its Global Financial Stability Report, the IMF said it sought to "approximate the increase in sovereign credit risk experienced by banks over the past two years." The report did not measure bank capital needs, which the IMF said would have to be determined by fully fledged stress tests to identify balance sheet assets, income or losses. Earlier this month, IMF Managing Director ... (full story)
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