UK banks have a collective capital shortfall of £25bn and must close it by the end of the year with new capital and restructuring, the UK's new financial stability regulator announced.
The Financial Policy Committee said tough scrutiny of the way the banks were measuring risk and allocating capital to looming fines and expected losses had found banks were overstating their capital by £50bn. But half of that was in banks that already had more capital than required. http://link.ft.com/r/YIQXNN/B49FMJ/8ANBW9/ORY02Y/9MN8AE/KI/h?a1=2013&a2=3&a3=27
