UK regulator says satisfied with Lloyds, RBS capital plans

LONDON Wed May 22, 2013 6:20am EDT

A man walks past a Royal Bank of Scotland branch reflected in a puddle in central London January 14, 2010. REUTERS/Stefan Wermuth

A man walks past a Royal Bank of Scotland branch reflected in a puddle in central London January 14, 2010.

Credit: Reuters/Stefan Wermuth

LONDON (Reuters) - Britain's financial regulator said it had finalized capital requirements for Royal Bank of Scotland (RBS.L) and Lloyds Banking Group (LLOY.L) 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)

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