LONDON (Reuters) – The Bank of England plans to reverse a decision to increase banks’ capital requirements because of the expected hit to Britain’s economy from last week’s European Union referendum, Bloomberg News reported on Friday. A spokeswoman for the BoE declined to comment on the report.
The BoE’s Financial Policy Committee is to issue a six-monthly report on Britain’s banking sector on Tuesday, and met earlier this week to make policy decisions.
The Bank said in March it would raise the so-called counter-cyclical buffer (CCB) for banks from March 2017.
(Reporting by William Schomberg, editing by David Milliken)
Bank of England plans to reverse bank capital hike after Brexit: Bloomberg
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