IMF: Spain's banks need at least 40 billion euros
Spain needs about 40 billion euros in extra capital injected into several banks to allow them to withstand severe economic conditions, the International Monetary Fund said on Friday.
The IMF said its "stress test" does not include extra capital that it recommends Spain needs as a buffer to cover restructuring costs and loan losses. An IMF official said such a buffer usually would be 1.5 to two times larger to convince markets that Spain has a credible cushion to handle shocks. (Reuters)
