The largest US banks are under pressure from New York State insurance regulators to provide as much as $15bn (£7.6bn) in fresh capital to support struggling bond insurers, people familiar with the matter said.

Eric Dinallo, New York insurance superintendent, has met executives at the banks and strongly urged them to provide $5bn in immediate capital to support bond insurers, the largest of which are MBIA and Ambac, and ultimately to commit up to $15bn. A spokesman for Mr Dinallo had no immediate comment.