UK banks told to find £13.4 billion in extra capital

The Bank of England

UK banks will remain £13.4 billion ($20.7 billion) short of their capital requirements even after taking planned measures to strengthen their balance sheets, the Bank of England's Prudential Regulation Authority (PRA) announced today.

The PRA said four banks – Barclays, Co-operative Bank, Lloyds Banking Group and Royal Bank of Scotland (RBS) – are responsible for the expected shortfall.

At the end of 2012 these banks, along with the Nationwide Building Society, were found to hold £27.1 billion l

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