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UK regulator says satisfied with Lloyds, RBS capital plans


 (Copyright Reuters 2013)

Britain's financial regulator said it had finalized capital requirements for Royal Bank of Scotland and Lloyds Banking Group and was comfortable with their plans.

The Prudential Regulation Authority said it would release more information when it had concluded discussions with all banks, including, where necessary, if banks need to take steps to meet any shortfalls.

Lloyds and RBS each said on Wednesday they did not need to issue more equity, and would meet extra capital needs by selling assets and through retained earnings and restructuring plans that are underway.

(Reporting by Steve Slater; Editing by Matt Scuffham)