Who can boss the banks?    • 13 March 2013   • From the section
Business   • comments George Osborne Image caption George
Osborne hopes that RBS and Lloyds will not need more public
money  Over the past few weeks and months, Andrew Bailey of the
Financial Services Authority - and soon-to-be boss of one of the
FSA's successor bodies, the Prudential Regulatory Authority -
has been ambling around the City, agreeing how much additional
capital the big banks need to raise, to protect themselves from
losses on loans to customers barely keeping their heads above
water, and as insulation against fines and compensation for past
misdeeds.  You may have noticed the results. For instance, the
bank 80% owned by taxpayers, Royal Bank of Scotland, has
announced it is floating some of its US business, Citizens, on
the stock market and selling a further stake in the insurer
Direct Line.  Those actions will boost the numerator in its
capital ratio. And at the same time, it will be shrinking its
investment bank, thus cutting th