Comment

摘要

In the nine years since Europe saw the first signs of the global financial crisis, the majority of regulatory and equity market attention has been focused on the process of building bank capital and dealing with legacy assets. Substantial progress within the industry now sees capital ratios that are unrecognisable when compared with pre-crisis levels, despite the substantial tightening in regulatory rules. European banks have raised more than €600bn in fresh equity capital since December 2007, primarily from private sector sources. Several hundred billion euros in additional capital has been generated by lenders from business disposals and balance sheet delev-eraging, radically improving sector resilience and stability.