By Daniel Hunter

The Financial Policy Committee (FPC) have said that British banks need to increase capital as soon as possible.

The Bank of England regulator says that despite the banks having already bolstered finances, they will need further funds still to cover any possible financial difficulties.

A review, to be carried out by the FPC, will take place at the next meeting of the committee in June.

Next year, the FPC will gain legal powers to order banks to take action.

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