Big banks could be forced to raise $1.1trillion to avoid Lehman scenario

‘The G20 wants the world’s largest banks to raise as much as $1.1 trillion by 2022 in debt or other securities to prevent a repeat of the 2008 financial crisis, according to the Financial Stability Board (FSB).

The regulator which was created by the G20 countries in the aftermath of the crisis, on Monday published its plan for tackling banks seen as “too big to fail”.

“As a consequence, the financing capacity to the real economy is being rebuilt and significant retrenchment from international activity has been avoided,” Bank of England Governor Mark Carney said in a letter to G20 leaders ahead of their summit next week.’

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