Wednesday, 3 July 2013

UK Banks' Reserve Balances Increase 27 % on Last Year in June to hit New High

Reserve balances for UK banks ended on £289.740 billion for the month of June figures released by the Bank of England show. This was an increase of £956 million (0.33 %) on May and a 27.0 % increase on June last year.

It was the highest reserve balances ever reported for UK banks.

Compared to August 2008 (just prior to the onset of the "financial crisis") reserves have increased by £261.044 billion, or 910 %.

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