The American Empire in a Changing World


Thursday, November 29, 2012

''UK banks face £60bn black hole''

From The Telegraph

''In its Financial Stability Report (FSR), the Bank revealed that the big four lenders - RBS, Lloyds, Barclays and HSBC - may need to take £15bn of extra provisions on consumer loans and European debt, “a further £4bn-£10bn” to cover fines and customer compensation, and “between £5bn and £35bn” to meet regulatory risk standards.

Sir Mervyn King, the Bank’s Governor, said the potential losses distorted the “picture of banks’ health” and that lenders may have to “raise capital or take steps to restructure”. He added: “The danger to be avoided is that of inadequately capitalised banks holding back our recovery.''

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