On 14 November 2008, the Financial Services Authority (FSA) issued a statement to explain the approach it had taken to individual bank capital frameworks as part of the plan to support the UK banking system announced on 8 October 2008.
The statement on the FSA's approach to bank capital sets out how that framework has been developed. Since 8 October the FSA have continued to give consideration to appropriate long term changes to the bank capital regulatory framework.
The FSA have clarified that they are operating on the basis that they are expecting each of the participating banks to have a minimum core tier 1 of 4%.