The UK's central bank has warned British banks that they had been "too lax" in provisioning for potential losses on consumer credit and must put aside £10 billion more capital to protect themselves, reports the FT. The Bank of England stressed that consumer debt was only "a pocket of risk" in what it said was an otherwise stable environment, but said it would need to force some banks to be more prudent. The BoE said it would raise the level of capital individual banks needed in November when it published its annual stress tests. It also warned of risks from Brexit to the cross-border insurance and derivative contracts market. A US$5.3 billion takeover of Nets A/S, Scandinavia's largest payments processor, by US private equity group Hellman & Friedman ranks as the largest European leveraged buyout in almost five years, reports the FT.