Bank sector's £25bn 'black hole'

The banking sector has to fill a £25 billion "black hole" in its reserve funds that are needed as a cushion against future crises, the Bank of England has warned.

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RBS & Lloyds likely to have the biggest bank shortfalls

Lloyds Banking Group is 40% owned by the taxpayer Credit: Paul Faith/PA Archive

The Bank of England's new regulator wants banks to raise £25 billion by end of the year without damaging lending.

It will not name and shame those most at risk but it is likely the biggest shortfalls are at RBS and Lloyds - the banks we own.

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