Between the period before the crisis and March of this year the banks’ core tier 1 capital increased from 7.1 to 9.9 per cent of risk-weighted assets.
We have already heard this morning about changing consumer demands and advances in financial technologies. Retail payments have become faster, and much easier to access. We can now initiate payments in a variety of ways – we can simply tap our credit cards, hold up our mobile phones, or pay for things remotely using a mobile banking app.