(MENAFN) The International Monetary Fund (IMF) said on Friday that Spanish Banks need approximately USD50 billion to be able to keep up with international standards due to the economic crisis, reported Market Watch.
The IMF's Financial Sector Assessment Program to calculate, used stress tests to determine that although the largest Spanish banks has enough capital, other sections of the sector would need major capital.
In a statement the IMF said that USD50 billion was not a definitive amount and that although the core, namely large Spanish Banks can appear to be solid, other sectors need major assistance in the form of capital.
Euro Zone Finance ministers are discussing a bailout of Spanish Banks.
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