Claudiu Cercel, BRD: Basel III compliance would require EUR 5 bln for Romanian banks

Romanian banks would require funds of around EUR 5 billion were they to comply with Basel III indicators, according to Claudiu Cercel, vice-president of BRD. “The calculations for the euro zone indicate the need to issue EUR 1,500 billion, which is a huge amount the the European Union level […] Keeping proportions, probably Romanian banks would need to attract around EUR 5 billion. Probably the calculation needs to be smoothen, but anyway it is an important amount,” according to Cercel (in picture).