U.K. banks' capital falls far short of what's needed, BoE says

06/25/2013 | Wall Street Journal, The

Britain's Prudential Regulation Authority, an arm of the Bank of England, said the capital of U.K. banks is $41.96 billion short of the regulator's current requirements. Barclays, Lloyds and Royal Bank of Scotland Group, which together account for most of the shortfall, said they will shrink parts of their businesses and sell assets to bring themselves into compliance with the rules.

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