What it shows is that banks in the United States have increased their equity from about 5.5% to about 7.5%, and have reduced their reliance on wholesale funding from 30% to 25%. British banks have made less progress with tangible common equity, rising from just under 3% to a little over 4%, but they have significantly reduced their reliance on wholesale funding, from almost 45% in 2008 to less than 35% now.