Bank of England tells banks to raise £25bn

[dipsydoodle]

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]

1. Start lending money to People, instead of misanthropes .

[dipsydoodle]

2. They've already tried that and blanked.

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]

3. Imagine that, Banks denied Giving loans due to bad Credit .

[dipsydoodle]

4. If you mean our UK banks

that wasn't the case. Few wanted to borrow.