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Bank charges: Lenders awaiting capital decision

Lenders in the UK are growing impatient to learn how much capital they will have to raise to plug a £25 billion shortfall by the end of the year.

Sources told Bloomberg that banks and building societies are becoming "rattled" by the decision of the Prudential Regulation Authority (PRA) to delay the decision.

The PRA is a unit of the Bank of England, which took over the supervision of the Financial Services Authority this month.

It isn't expected to give lenders the details they need to determine the steps required for bolstering balances until mid-May at the earliest.

This comes after banks have been frantically selling units and laying down plans following the accusation by the central bank that lenders weren't holding enough capital.

By delaying a decision, they will have less than seven months to plug the gap and potential losses from mis-selling.

Claims for payment protection insurance mis-selling are still blighting the reputation of UK banks and research has shown the PPI scandal is now the number one grievance among consumers.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801577594-ADNFCR

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