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BBA: Banks should store up capital for future losses, says BoE

Banks should retain more of their profits over the next few quarters to protect themselves against potential losses in the future, according to Paul Tucker, deputy governor at the Bank of England.

Speaking at the British Bankers’ Association conference today, Tucker says that banks ought to build up their capital now to protect themselves against the threat of adverse circumstances later on.

Tucker says: “This is not about raising Basel III requirements, it is about getting ahead of the game and replenishing capital when you can.

“This is important because the economic environment is sufficiently threatening that we could end up being grateful that the banks have had a few quarters where they could put more capital away.”



Residential property is key to EC directive

Robert Sinclair, director of the Association of Mortgage Intermediaries, revealed at this year’s Mortgage Business Expo that buy-to-let and bridging will be subject to new regulations under the European Commission’s mortgage directive. Since then the industry has been assessing the impact of this. Will it make the market more transparent and competitive, or will it […]


Like Rory McIlroy we all need tenacity

I’m passionate about people who do things well, particularly those who have had a bit of a knock and bounced back. We’ve had a great example of this recently with golfer Rory McIlroy claiming his first US Open Championship at the age of 22. After his collapse on the verge of victory at Augusta in […]

Privatised quangos create a right mess of conflicting rules

Reading the comment thread on the Mortgage Strategy Online story ’Lenders should not justify why they decline cases, says FSA’ I found myself agreeing with everything that was said. But over-regulation has left us with a tangled mess of conflicting rules. My concern is that the Information Commissioner’s Office always seems to be on the […]


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