Developing core capital projects and acting as the driving force behind them.

The second category is core capital, which must be maintained at 3 percent of assets.

All other savings and loans would have to maintain their minimum core capital at a level of 4 to 5 percent or higher.

To bolster core capital, the banks are raising money.

If this goes as intended, Glendale Federal would have core capital of 4.81 percent.

Before the act was adopted, thrifts could lend up to 100 percent of their core capital to one borrower.

Currently, banks must have a minimum total capital level of 6 percent and core capital of 5.5 percent.

Of this amount, €3 billion covered the original issue of core capital securities, while an additional €1.1 billion was paid in premium and interest.

Second, the definition of core capital given in the Karas report violates the competitive neutrality of the regulation.

A replacement instrument has been created as Core Capital Deferred Shares.

That would be the deadline for when such intangibles as good will could no longer be counted as part of an association's so-called core capital.

Bankers and their ruling party allies trained their heaviest fire on a proposal to limit the use of tax breaks as core capital.

The banks must also reduce their shareholdings to no more than 100 percent of their core capital, from the current 140 percent to 150 percent.

Mr. Nichols now expects that American Federal will have the needed $75 million in core capital by June.

Under the proposal published in the Federal Register, the thrift office would establish a two-tier standard for the minimum core capital requirement.

Mizuho, Japan's largest bank, said on Tuesday that tax credits comprised 44 percent of its core capital, down from 60 percent.

The core capital program would pay for new subway and railroad cars, station maintenance and rehabilitation and other continuing improvements.

Though Asian loans represent only 3 percent to 4 percent of total loans, in some cases, that exposure is greater than the bank's core capital base.

Banks have been selling trillions of yen in stocks to meet a September 2004 deadline for getting their stock portfolios below their core capital.

Core capital, seen as a cash cushion against losses, would comprise retained earnings, proceeds from the sale of common stock and certain perferred stock issues.

The Federal Deposit Insurance Corporation is expected to set a core capital ratio of 4 percent by December.

Mitsui Trust's stockholdings are estimated to be twice as large as its core capital, making the bank highly vulnerable to the performance of the stock market.

The authority's executive director, Katherine N. Lapp, outlined the areas most likely to be affected if the $17.2 billion core capital program was not approved.

The rights issue is designed to help UniCredit meet the new core capital requirement being imposed by the European Banking Authority.

The European Banking Authority has told lenders they must find €115bn of extra capital by June to reach a minimum core capital level of 9pc.