BoE unveils gloomy Financial Stability Report

mervyn-king

The governor of the Bank of England, Mervyn King, on Thursday offered a worrying picture of the UK economy as he unveiled the latest edition of the biannual Financial Stability Report.

King said banks operating in the UK should boost capital levels to buffer themselves against the "extraordinarily serious and threatening" situation. It was suggested in the report and repeatedly emphasised by King that banks with insignificant earnings to enable them to boost their capital levels should "limit

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