Banks may have understimated potential losses by £50bn, a black hole in balance sheets is £25 billion pounds.
The Bank of England has crunched its numbers and worked out the banking sector needs to fill a £25m 'black hole' in its reserve funds.
The Bank of England's new regulator has just revealed how much danger our banks are still in, and it is not pretty.
The UK's big banks mess is very well documented. The FPC report will help show just how far they are from getting a clean bill of health.