October 24, 2011 / 10:59 AM / 7 years ago

French banks need less than 10 billion euros: Noyer

PARIS (Reuters) - Bank of France Governor Christian Noyer said on Monday that French banks would need less than 10 billion euros to raise their core capital ratio to levels agreed by European Union finance ministers at the weekend.

French Central Bank Governor Christian Noyer attends a news conference at the end of the G20 meeting of Finance Ministers and Central Bank Governors at the French Finance ministry in Paris October 15, 2011. REUTERS/Gonzalo Fuentes

“The French figure will be less than 10 billion euros,” Noyer told France’s BFM radio, adding that the increase in capital would apply to all France’s banks.

Noyer also said that French banks, which suffer from high exposure to Greece and other peripheral euro zone nations, could raise their capital levels without needing an injection of state funds.

Reporting By Jean-Baptiste Vey and Alexandria Sage

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