Fitch Calls For Capital Increase As Run On Spanish Banks Continues

Fitch ratings has called for a huge increase in capital reserves at the world's biggest banks today as the markets reel from the run on Spain's banks. The agency recommended banks across the world raise a total of $556 billion an increase of 23 percent over what the banks are currently holding.

Fitch made the recommendations on 29 of the world's systemically important banks. That list includes Goldman Sachs Group (NYSE:GS), HSBC Holdings plc (LON:HSBA), Mizuho Financial Group Inc.  (TYO:8411), Bank of America Corp. (NYSE:BAC) Societe General S.A. (EPA:GLE), and JPMorgan Chase & Co. (NYSE:JPM).

Those banks...