Spanish banks need up to €62 billion in capital
Spanish banks need up to €62 billion in new capital to absorb losses in the coming years, according to two independent analyses that will serve as the basis for a government request for European Union aid to help finance a cleanup of the local sector.
MADRID -Spain said Monday its banks will need euro20 billion in new capital to meet new reserve requirements aimed at strengthening their finances and quelling fears the country might be Europe's next to need a bailout.