Britain’s big 4 banks face a £60bln ‘black hole’

Author: Pete Jackson | Category: News

Author: Pete Jackson

The UK clearers may have to  make provisions of up to £15 bln to cover consumer loans, fines, customer compensation and meet regulatory risk standards

Mervyn King  warned that the banks may have to ‘raise capital or take steps to restructure’ adding  “The danger to be avoided is that of inadequately capitalised banks holding back our recovery.” but did stress that no more taxpayer money would be put on the line…

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