Banks Should Hold 20% Capital, Bank of England’s Miles Says

Oct. 4 (Bloomberg) -- Banks should hold between 17 percent and 20 percent of capital relative to risk weighted assets as an “optimum” average David Miles, a policy maker at the Bank of England, said in a speech in Oxford, England today.

“Having too little capital is very costly,” Miles said. “Having too much loses you a bit.”

To contact the reporter on this story: Ben Moshinsky in London at bmoshinsky@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net