Main points from the Financial Regulator

The following are the main points from the Regulator's Prudential Capital Assessment Review:

1 Banks must achieve a level of 8 per cent of core tier 1 capital by the end of this year.

2 This level of capital must be met after taking account of all future losses, from both Nama and non-Nama portfolios.

3 The new requirements mean that banks cannot go below a level of 4 per cent core tier 1 capital in a severely stressed scenario.

4 The institutions will be required to submit recapitalisation plans to the Financial Regulator within 30 days.