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BoE will tell banks to raise tens of billions in extra capital

Banks are expected to be told they need to raise tens of billions in extra capital in a report by the Bank of England’s financial policy committee published later today, according to a BBC report.


Last November the Bank of England suggested as much as £60bn more capital may be required to guard against future losses.

The capital-raising could delay the return of taxpayer-owned banks, the Royal Bank of Scotland and Lloyds Banking Group, to the private sector.

It could also hit business lending and mortgages as banks are forced to put more cash and safe assets aside as a buffer.

Earlier this month the European Union passed CRDIV to impose Basel III capital rules on member states.


February lending falls 11% to £2.6bn

Remortgage lending fell 11 per cent in February, down from £2.9bn in January to £2.6bn, according to conveyancing firm LMS. Figures from the Council of Mortgage Lenders show total gross remortgage lending also fell 8 per cent over the same period, down from £11.4bn to £10.5bn. LMS estimates that the total number of remortgage loans […]

FTB levels down in February, says NAEA

House supply levels increased in February at the same time house hunter and first-time buyer levels dropped, according to data from the National Association of Estate Agents.

FCA will publish early warning notices in bid for transparency

The FSA has outlined how the Financial Conduct Authority will use its new powers to publish early warning notices against firms or individuals subject to ongoing enforcement action. The powers mark a radical departure from the current system where ongoing enforcement cases can only be made public at the decision notice stage, where firms have […]


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