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UK watchdog details bank capital shortfalls
June 20, 2013 / 6:23 AM / 4 years ago

UK watchdog details bank capital shortfalls

LONDON, June 20 (Reuters) - Britain’s banks have plans to raise 13.7 billion pounds to plug a collective capital shortfall by the end of this year, the Prudential Regulation Authority said on Thursday.

The PRA said the aggregate capital shortfall at UK banks at the end of 2012 was 27.1 billion pounds, higher than the 25 billion initial estimate.

The PRA said RBS had a total shortfall of 13.6 billion pounds, Lloyds 8.6 billion pounds and Barclays 3 billion pounds at the end of 2012.

The Co-op had a shortfall of 1.5 billion pounds and Nationwide 400 million pounds. There were no shortfalls at HSBC and Standard Chartered.

The banks have already announced steps to plug the shortfalls.

“A number of these intended actions will require regulatory approval before being implemented,” the PRA said in a statement.

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