Five of Britain's biggest lenders have raised half the money needed in reserve to cover their risks,with Barclays, Lloyds Banking Group and Royal Bank of Scotland accounting for more than 90% of the shortfall, the City regulator revealed:
- State-backed RBS must raise £13.6 billion
- Tax-payer owned Lloyds needs to boost its balance sheet by £8.6 billion
- Barclays needs to find £3 billion
- The Nationwide building society is facing a £400 million shortfall
- The Co-operative's shortfall of £1.5 billion had already been announced
HSBC, Standard Chartered and Santander UK do not need to bolster their capital cushions, the PRA said.
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