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LONDON, March 11 (Reuters) - Shares in Britain's top lenders
resisted big falls on Wednesday after the Bank of England said
banks could tap special capital reserves to keep lending to
businesses and households as the coronavirus tightens its grip
on Europe.
The move is expected to mitigate further pressure on bank
profit margins following the BoE's surprise cut in interest
rates by half a percentage point to 0.25%, as the central bank
looks to bolster Britain's economy in the face of the outbreak.
Lenders have already seen revenues and profits squeezed by a
post-Brexit borrowing slump.
Shares in Britain's biggest domestic lender, Lloyds Banking
Group were trading up 2.4%, while shares in Barclays
and Royal Bank of Scotland gained 3.5% and 2.3%
respectively.
HSBC shares were trading 2.2% higher at 0815 GMT.
(Reporting By Sinead Cruise, editing by Clara Denina)
