Bank of England tells banks to raise another $38 billion PDF  | Print |  E-mail
Written by By Associated Press   
Wednesday, 27 March 2013 06:39

LONDON (AP) — A Bank of England committee is recommending that banks increase their capital by 25 billion pounds ($37.9 billion) to ensure they can cover potential losses and shore up Britain's financial system.

The Financial Policy Committee says some banks already have adequate capital and those that don't should take steps to ensure their capital is equal to at least 7 percent of their risk-weighted assets by the end of this year.

The committee was set up to regulate the health of the banks following the 2008 financial crisis. It did not name any banks, or single out the ones that need to increase their capital.

The committee also recommended applying higher capital requirements to any major UK bank or building society with exposure to particularly weak investments.


Copyright 2013 The Associated Press.

 

Front Page Stories

Body of BGSU student found
07/23/2014 | Sentinel-Tribune Staff
article thumbnail

A missing poster for Cory Barron, is posted on a light pole along West 6th Street in Cle [ ... ]


Chinese lanterns may have ignited fire
07/23/2014 | PETER KUEBECK, Sentinel Staff Writer
article thumbnail

File photo. A firefighter is seen near a fire engulfing a pallet yard on West Broadway S [ ... ]


Other Front Page Articles