- Regulators should use temporarily significantly higher capital ratio of highest quality capital
- Banks should tap private sources of capital first , then government support if necessary
- EFSF should be last resort for capital
- No dividends or bonuses without recapitalization
- European Stability Mechanism (permanent EFSF replacement) must be accelerated to mid-2012 from mid-2013
- Sixth tranche of aid to Greece must be disbursed
Reuters headlines…
Nothing very earthshaking here other than the temporary boost of high-quality capital to calm markets…
