(Reuters) – Big banks in the United States should raise $200 billion in capital right now amid the ongoing coronavirus outbreak, Minneapolis Federal Reserve Bank President Neel Kashkari wrote in an op-ed for the Financial Times newspaper https://on.ft.com/34JV0qq.
“In 2008, U.S. taxpayers injected about $200 billion of capital to strengthen banks”, Kashkari wrote on Thursday.
“Raising that amount from private investors today, as a strong, preventive measure, would ensure that large banks can support the economy over a broad range of virus scenarios”, he added.
(Reporting by Kanishka Singh in Bengaluru; Editing by Toby Chopra)
