The Bank of England has announced that certain banks need to raise additional cash over the coming year in order to protect them from financial losses arising as a result of bad loans and fines.This announcement has come from the Financial Policy Committee, which is the new financial stability regulator. It has said that banks will need these extra funds following the high risks loans deal to the commercial property
sectors and the recent instability of the eurozone.Shares have already started dropping for RBS, despite the fact that no government money will be issued to contribute to this capital; the banks have said that they will be selling on shares and issues bonds in order to raise the cash.The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article. Setfords Solicitors are a national full service law firm, with commercial property solicitors in Nottingham and across the country.