Bank sector's £25bn 'black hole'
The banking sector has to fill a £25 billion "black hole" in its reserve funds that are needed as a cushion against future crises, the Bank of England has warned.
What is the role of the new Financial Policy Committee?
- The Financial Policy Committee was set up on an interim basis last year, and is chaired by the Bank of England Governor.
- It is also the pillar of the new regulatory regime introduced by the coalition, which comes into force on April 1.
- The FPC will take the broadest overview of financial regulation in the UK and comprises a mixture of Bank of England staff and external experts.
- It will sit alongside the Prudential Regulation Authority and the Financial Conduct Authority.
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The Bank of England's 'black hole' number crunching
The Bank of England has crunched its numbers and worked out the banking sector needs to fill a £25m 'black hole' in its reserve funds.
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The banks' 'black hole' is revealed
The Bank of England's new regulator has just revealed how much danger our banks are still in, and it is not pretty.
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How big is the banking black hole?
The UK's big banks mess is very well documented. The FPC report will help show just how far they are from getting a clean bill of health.