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IMF says a third of banks in top countries are too weak to survive

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A view of Deutsche Bank in London.

A third of biggest banks in the world’s richest countries are so weak their problems could not be solved even by a recovery and rising interest rates, the International Monetary Fund said in a new report released Wednesday.

About a third of European banks, with $8.5 trillion in assets, and a quarter of U.S. banks, with $3.2 trillion in assets, are in this too-weak-to-recover category, the IMF said.

“This suggests the need for fundamental changes in both bank business models and system structure to ensure a vibrant and healthy banking system,” the IMF said in its update on global financial stability.

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