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Bank charges: Capital plans agreed

The Prudential Regulation Authority (PRA) has come to an agreement on the amount of capital that banks are required to have.

It announced that it would be following advice from the Financial Policy Committee and adjusting the level of capital that banks need accordingly. This is so that banks will be better placed to weigh up risks and more protected against risky investments.

The new financial regulator has been trying to set a total amount of capital so that banks are better protected if they agree risky investments. In turn, that means customers' savings within banks would be better protected in the event that the investment arms incurred huge losses.

Royal Bank of Scotland (RBS) and Lloyds Banking Group, two lenders who are now partially state owned following the financial crisis, have agreed capital requirements with the PRA. They said they would raise funds by selling off assets through restructuring, rather than issuing new equity.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801589568-ADNFCR

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