Seeking Alpha | Half a Trillion Dollar Hole in Bank Assets

Extracted from Wall Street Breakfast: Big banks need to plug $566B hole to meet Basel III - Fitch. The world's 29 largest banks will need to raise another $566B in capital by 2018 to meet tougher Basel III standards, Fitch has estimated. The amount represents a 23% increase on what banks held at the end of 2011, or roughly equivalent to three times their combined annual earnings. U.S. banks will be hit particularly hard by the relative capital requirements for risky activities. Seeking Alpha Opinion: How simple rules can mitigate risk.