Top UK Banks Must Add $21B In Capital, Watchdog Says

Law360, New York (June 20, 2013, 3:34 PM EDT) -- Five of the U.K.’s eight largest financial institutions must boost their capital reserves by a combined £13.4 billion ($20.7 billion) by the end of the year to adequately cushion against any further financial crises, a British banking regulator said Thursday.

According to the Prudential Regulatory Authority, these five institutions — Barclays Bank PLC, The Co-operative Bank PLC, Lloyds Banking Group PLC, Nationwide Building Society and The Royal Bank of Scotland PLC — had fallen short on required capital-to-asset ratios and will be held to plans requiring them...
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