United Kingdom
Related: About this forumBank of England tells banks to raise £25bn
Last edited Wed Mar 27, 2013, 06:55 AM - Edit history (1)
Major UK banks must raise a total of £25bn in extra capital by the end of 2013 to guard against potential losses, the Bank of England (BoE) has said.
In a statement, the BoE's Financial Policy Committee (FPC) said only some banks needed to raise the cash, but did not name them.
It said banks could face losses of £50bn over the next three years, relating to bad loans and fines.
More money may need to be raised after the end of the year, the FPC said.
http://www.bbc.co.uk/news/business-21948429
edited : BBC updated the same link
orpupilofnature57
(15,472 posts)dipsydoodle
(42,239 posts)The banks were supplied with funds by the Bank of England for that sole purpose but by and large there was a reluctance to borrow
orpupilofnature57
(15,472 posts)dipsydoodle
(42,239 posts)that wasn't the case. Few wanted to borrow.