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Five Banks Must Raise $21 Billion in New Capital, BOE Says

Five U.K. banks must find 13.4 billion pounds ($21 billion) to plug a 27.1 billion-pound capital shortfall by the end of the year, the Bank of England said.

The five lenders, including Barclays Plc, Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc, have already submitted plans to raise half the total, the London-based BOE said in a statement today. Lloyds must plan to raise an extra 7 billion pounds, while RBS and Barclays need 3.2 billion pounds and 1.7 billion pounds of additional capital.