Five of Britain's biggest lenders must plug a combined £27.1 billion hole in their finances, with Barclays, Lloyds Banking Group and Royal Bank of Scotland accounting for more than 90% of the shortfall, the City regulator has revealed.
The Prudential Regulation Authority (PRA) said Barclays needs to boost its balance sheet by £3 billion, while state-backed players RBS and Lloyds must raise £13.6 billion and £8.6 billion respectively.
Nationwide building society is facing a £400 million shortfall, while The Co-operative must stump up £1.5 billion as already announced.
HSBC, Standard Chartered and Santander UK do not need to bolster their capital cushions, the PRA said.
The PRA said the banks already had plans in place to raise £13.7 billion of the extra capital required and will stump up the remainder by the end of 2013 and early 2014.