US banks 'need to raise $75bn'
Ten US banks need to raise almost $75bn in additional funds to survive a further major slump in the economy, the US central bank has said, after carrying out ``stress tests'' on 19 of the country's biggest banks.
Banks in Ireland have to raise $43 billion in capital as lending remains dry in the economy, this announcement came after the National Asset Management said it is discounting 47% on the first loans is it purchasing from lenders as a way to provide tranquility in the financial system.