UK banks had £25bn funding black hole in 2012

The figure, much lower than previous estimates, was announced today, with the FSA calling on banks to plug the hole as soon as possible. The Bank said UK lenders now need to achieve a common equity tier 1 capital ratio, based on Basel III definitions and after the required adjustments, of at least 7% by the end of this year. It said some UK banks have already achieved this, but for those that have not, the aggregate capital shortfall at the end of 2012 was around £25bn. The Bank said the UK's major lenders should be forced to fix their balance sheets by the incoming Prudential Regu...