# Nobel Laureate Prof. Robert Engle says banks need additional $3 trillion of capital

1 Faculty News December 18, 2012 ![The Australian logo](/sites/default/files/styles/246w/public/assets/images/con_030949.jpg?itok=04fsBqtC)>

Excerpt from [The Australian](http://www.theaustralian.com.au/business/financial-services/banks-need-3-trillion-of-capital-says-nobel-winning-economist/story-fn91wd6x-1226538653276) -- "Giving a keynote speech at the 25th Australian Institute of Banking and Finance conference in Sydney yesterday, Professor [Engle](http://w4.stern.nyu.edu/faculty/bio/robert-engle) said: 'It's far better to try and raise capital standards in a boom.'"

[Read more](http://www.theaustralian.com.au/business/financial-services/banks-need-3-trillion-of-capital-says-nobel-winning-economist/story-fn91wd6x-1226538653276)