BOE Says 'ringfenced' Banks Need Extra Capital; Stocks Higher

By MarketWatch Pulse

Shares of U.K. banks held to higher ground Thursday after the Bank of England said so-called "ringfenced" banks will need to hold extra capital to cover systemic risk in their operations. The announcement comes under guidelines for how the banks should operate under new laws that separate retail from investment-banking activities. Stock in Royal Bank of Scotland Group PLC gained 1.2%, Barclays PLC [s:barc] was higher by 0.6%, and Lloyds Banking Group PLC [uk:lloy] picked up 0.5%. HSBC Holdings PLC moved up 0.2%.

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