European regulators said the continent's banks are well on their way to replenishing their capital cushions, but concerns persist that the lenders aren't taking sufficiently drastic actions to fortify themselves.

The European Banking Authority last December ordered 31 banks to come up with a total of nearly €115bn of new capital by June, an effort to defuse fears about the solvency of the European banking sector. The EBA said on Thursday that banks collectively have submitted plans to more than cover the shortfall.