New York ( TheStreet) -- Standard Chartered's rights offer to raise $5.3 billion to satisfy Basel III standards may be a little early, but don't be surprised if other banks follow close behind. Banks have until 2019 to fully comply with Basel III's capital requirements, but several banks may rush to raise the capital and get ahead of the game in the process. "Compare it to TARP payoffs. Everyone came to the market at the same time. I think you are going to start to see other people say wait and if the economy is right let's do it now," Paul Hastings' Lawrence Kaplan said. "The big banks are going to do it first and the other banks are going to follow along. Those who can't raise capital will be gobbled up." Banks that some experts believe will soon start raising are Barclays ( BCS) , Deutsche Bank ( DB - Get Report), UBS ( UBS - Get Report), Credit Suisse> ( CS - Get Report), UniCredit, RBS ( RBS) , Banco Bilbao Vizcaya Argentaria ( BBVA) and Banco Santander ( STD). Kaplan believes Standard Chartered raised the cash now so it can make future strategic moves like acquisitions without regulators questioning their actions. "With the minimums coming into place, most banks in England, Ireland, Germany and Switzerland probably are looking to adjust to the new capital requirements and
are likely to over the next two or three years be raising capital," said Chris Bellini, a former Federal Reserve attorney and co-chair of Gibson, Dunn & Crutcher's Financial Institutions Group. "They do have a while to go but it puts them in a terrific place," says Kaplan of Paul Hastings. "If they waited until everyone is raising money, the terms may not be as good, and if they waited long enough investors might be tapped out. As we get closer to the deadlines for implementation it is going to get harder to raise capital." Gibson, Dunn's Bellini believes that investors have capital now, and Standard Chartered's management saw an opportuntity. "From the standpoint of the marketplace, institutions have always held capital above the minimums," said Bellini. "My guess is that they determined what kind of capital they needed and determined this was a good time to raise funds in the marketplace and they went ahead and did it." -- Written by Maria Woehr in New York. To contact the writer of this article, click here: Maria Woehr.