Bloomberg News

Fillon Says French Banks to Detail Plans by Dec. 15

November 02, 2011

Nov. 2 (Bloomberg) -- French Prime Minister Francois Fillon said he ordered his country’s banks to present detailed plans of how they intend to meet new capital targets by December 15.

“French banks have already considerably strengthened their balance sheets,” Fillon told reporters in Paris after meeting with bank executives. “They confirmed this morning that they’ll be able to reach the target by June 2012, principally by re- investing their profits and by controlling risk.”

Fillon said the banks won’t need state support to meet the target, which requires about 8 billion euros in capital for all the lenders.

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: Mark Deen at markdeen@bloomberg.net


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