EBA says banks did not sell assets or cut lending due to 9% capital rule

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The European Banking Authority (EBA) used the release of an update report today (July 11) to rebut suggestions European Union (EU) banks were forced to jettison assets at fire-sale prices and slash lending to meet its new minimum capital standards.

The EBA issued a recommendation last year that national authorities instruct EU banks to raise their core Tier 1 capital ratios to 9% – after accounting for additional buffers against sovereign risk holdings – within nine months. The banking regulator

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