Bank of England eye’s ‘strong and simple’ rules for small lenders

FILE PHOTO: The outbreak of the coronavirus disease (COVID-19), in London
FILE PHOTO: A general view shows The Bank of England and the City of London financial district, amid the outbreak of the coronavirus disease (COVID-19), in London, Britain, November 5, 2020. REUTERS/John Sibley

November 12, 2020

LONDON (Reuters) – The Bank of England is looking at whether it could introduce a graduated system of capital rules for smaller lenders and building societies, Deputy Governor Sam Woods said on Thursday.

“Moving to a fully graduated regime of this kind would be a major undertaking,” Woods told the City of London’s Mansion House.

(Reporting by Huw Jones; Editing by David Goodman)