Carney gives UK banks liquid relief

By Tom Porter
30 Aug 2013

Bank of England governor Mark Carney this week moved to reduce the capital burden on UK banks by allowing institutions meeting a minimum 7% core tier one capital ratio to reduce the amount of liquid assets they hold.

The BoE’s financial watchdog, the Prudential Regulation Authority, will amend its liquidity framework to allow firms to hold highly liquid assets broadly equivalent to 80% of the Liquidity Coverage Ratio agreed by the Basel Committee on Banking Supervision in January.

The LCR requires internationally active banks to hold ...

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