BoE to gather info on loan loss provisions ahead of Q2 results

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BoE to gather info on loan loss provisions ahead of Q2 results

Tyler Davies
June 04, 2020 11:00 am
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A man wearing a protective face mask walks past the Bank of England, London, as the UK continues in lockdown to help curb the spread of the coronavirus. | Dominic Lipinski/PA

The head of the Prudential Regulation Authority (PRA) has sent a letter to banks confirming its guidance on how to provision for expected credit losses (ECLs) amid the coronavirus pandemic. The UK regulator also said that it would be asking for more information around loan loss provisions in an effort to identify "significant outliers" in the market.

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