RBS, Lloyds and Barclays 'make up 90pc of £25bn black hole' The state-controlled bank needs to raise at least £10bn of capital and perhaps as much as £12bn to adequately provide for poor loans. Barclays may have a blackhole of around £5bn, while Lloyds Banking Group as much as £8bn. The Co-Operative Bank said on Monday it needed to raise £1.5bn as a result of the PRA's calculations. The outgoing Governor of the Bank of England said: "In total, the eight largest banks have a capital shortfall of around £25bn relative to the standard recommended by the Financial Policy Committee (FPC)... Our major banks all now have plans for actions to fill that shortfall. The first evidence is the announcement on Monday by the Co-operative Bank. Others will follow. He added: "By taking firm pre-emptive action, we have shown what the new judgment-led approach to supervision means in practice. It substitutes substance for process and judgement for box-ticking. We need not more but better regulation and, just as with monetary policy, we have changed the way regulatory decisions are made.