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Bank charges: Banks told to raise capital

The Financial Policy Committee has said that some banks will need to raise £25 billion in capital but did not disclose which ones this applied to.

It has instructed banks to raise capital to protect them against future losses due to bad loans.

Such investments aided in causing the financial crisis in 2008. During this time, some banks had to acquire funding in order to avoid closing. Royal Bank of Scotland (RBS) and Lloyds Banking Group had to be bailed out by the government. The taxpayer now owns around 80 per cent of RBS and 40 per cent of Lloyds.

However, these banks will need to tighten spending further if they are to raise the amount of capital required under new regulations.

Plans to increase the amount of capital that banks need behind them have also been put forward in the European Union, which is looking to standardise banking regulations across member states using recommendations from the Basel Committee.

John Fieldman
Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801563479-ADNFCR



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