The European Banking Authority has issued an update in relation to the implementation of Capital Plans following the EBA’s 2011 Recommendation to National Authorities that participating EU Banks raise their Core Tier 1 ratio (CT1) to 9%, after accounting for an additional buffer against sovereign risk holdings.

According to the updates of the plans submitted in June, banks are generally on track to comply with the EBA Recommendation and the measures initially identified have been implemented as planned.

The EBA has also issued a Q&A in relation to the recapitalisation exercise.