Britain's bailed-out banks need billions of pounds more capital to shore up their balance sheets and support the economy, senior Bank of England officials have warned.
UK regulators have given Royal Bank of Scotland and Lloyds Banking Group until March to begin dealing with a black hole that Brooks Newmark, a Tory member of the Treasury Select Committee, suggested could be as large as £30bn. Bank officials refused to quantify the capital shortfall in evidence to the TSC yesterday, but they confirmed it was substantial, the Telegraph reports. Michael Cohrs, a member of the Bank's Financial Policy Committee, said it was "a big number" while Andy Haldane, the Bank's executive director for financial stability, agreed it was "material". The warning ca...
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