Not a relaxation of capital requirements by the Prudential Regulation Authority on Wednesday — it’s a relaxation of the amount of liquid assets which banks have to hold (falling by some £90bn, apparently) so long as they do meet strictures on capital.
From the release: Read more
Click to enlarge for the Prudential Regulation Authority’s table on UK bank capital shortfalls…
Well, this is worrying. When even Britain’s Financial Services Authority acknowledges its own personnel problems, it must be serious.
From a memorandum the FSA recently sent to the Treasury Select Committee, on the subject of breaking it up into two new regulators: Read more
Financial Services Authority, the name of thy doom is, er, one of a selection of rubbish acronyms – as detailed in HM Treasury’s white paper on UK financial reform, released on Monday.
We’ve thus now got a bit more detail on the FSA’s successors — which include the PRA, the FPC, and the CPMA. But frankly, it all adds up in the end to the BOE. Read more