# Nobel Laureate Prof. Robert Engle on the financial deficiencies of the world's banks

1 Faculty News June 7, 2012 ![Reuters logo](/sites/default/files/styles/246w/public/assets/images/con_030503.jpg?itok=0OAgrDF0)>

Excerpt from [Reuters blog](http://blogs.reuters.com/felix-salmon/2012/06/07/counterparties-the-bank-capital-battle/) -- "America’s big banks are short a mere $500 billion in capital. That’s how much more of a cushion Nobel prize-winning economist [Robert Engle](http://www.stern.nyu.edu/faculty/bio/robert-engle) thinks is needed for banks to survive another financial crisis."

[Read more](http://blogs.reuters.com/felix-salmon/2012/06/07/counterparties-the-bank-capital-battle/)