More Bad News For Co-Op

One awkward detail for Ed Balls in the Prudential Regulatory Authority’s first report assessing British banks out yesterday. The Co-Op bank told them they currently hold £1.7 billion of core capital, though adjusted by the PRA to reflect expected future losses that figure falls to a worrying £200 million. In ratio terms the PRA advise banks to hold 7%, crucially today’s figures show the Co-Op holds a dangerously low 0.94%.

They need that £3.6 million Labour owe them more than ever. And what about Balls’ £50,000-a-year?




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Quote of the Day

Jo Swinson on Chris Rennard…

“Vince — and Tim before him — have repeatedly, publicly said Rennard is not welcome anywhere near their frontbench team, even as an adviser. I remain deeply frustrated that he was not expelled from the party through its disciplinary process. It just feels wrong, and I do not want Lord Rennard to continue as a member of the party. As far as I am concerned, he is not welcome.”

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