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Share Price: 213.10

Bid: 213.45

Ask: 213.55

Change: -4.10 (-1.89%)

Spread: 0.10 (0.047%)

Open: 217.55

High: 218.25

Low: 212.15

Prev. Close: 217.20

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UPDATE 1-Bank of England considered bank capital buffer hike but waiting to watch risks

Tue, 27th Mar 2018 11:34

By William Schomberg and Andrew MacAskill LONDON, March 27 (Reuters) - The Bank of England said itconsidered this month increasing the amount of money banks mustset aside to counter their risks as lending in Britain grows,but it held off taking a decision until June. The BoE said on Tuesday its Financial Policy Committee,which oversees risks to the economy from the banking system, hadseen arguments for setting the so-called countercyclical capitalbuffer (CCyB) a little above its current level of 1 percent of abank's risk-weighted assets. "Risks had increased since the Committee first judged that a1 percent UK CCyB rate was appropriate, in Q1 2016," the BoEsaid in a series of minutes from the FPC's meeting on March 12. Although British economic growth slowed last year followingthe 2016 vote to leave the European Union, it held up betterthan the BoE and most economists had expected. A Brexittransition deal struck by London and Brussels earlier this monthhas further eased short-term concerns about growth. The FPC said on Tuesday that risks of a Brexit hit toBritain's huge financial services industry had eased since itsprevious meeting in November. On the possibility of raising the CCyB, the FPC said it hadto be forward-looking and "waiting for a more marked evolutionin domestic risks before acting could result in a need toconsider sharper adjustments to the UK CcyB rate, which wouldlikely carry larger economic costs", the minutes said. A "measured increase" in the first quarter of 2018 could beaccommodated by banks without a need to tighten creditconditions and would not have been a shock, they said. But the FPC also listed arguments for keeping the CCyB at 1percent, including modest growth in lending, and it said signsof intensifying risk appetite would need to persist to justifyan increase in the CCyB. More targeted options could be appropriate and the FPCstressed its preference of raising the CCyB rate only gradually. "At this stage, it might be beneficial to note the probabledirection for the UK CCyB rate, given how risk-taking haddeveloped, and to observe the evolution of risks over the comingmonths in considering whether a rise was warranted," the minutessaid. The central bank also noted there had been an increase inlending close to the riskiest end of the mortgage market. In 2014, the BoE limited lenders' ability to issue mortgagesthat were worth more than 4.5 times a borrower's annual income. The share of lending just below the highest loan-to-valueratio had recovered from troughs seen during the globalfinancial crisis although it remained significantly belowpre-crisis levels, the BoE said. (Reporting by William Schomberg and Andrew MacAskill; editingby David Stamp)

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15 Dec 2023 18:12

Britain's Metro Bank decides not to sell mortgage book

LONDON, Dec 15 (Reuters) - Britain's Metro Bank said on Friday it had abandoned its planned sale of a 3 billion pound ($3.8 billion) mortgage portfolio, citing market conditions.

14 Dec 2023 12:00

Fnality completes 'world's first' blockchain payments at Bank of England

LONDON, Dec 14 (Reuters) - Fnality, a blockchain-based wholesale payments firm, said on Thursday that shareholders Lloyds Banking Group, Santander and UBS had completed the "world's first" live transactions that digitally represent funds held at a central bank.

14 Dec 2023 10:51

France's Credit Agricole to stop financing new fossil fuel projects

Vows to triple financing of renewable energy projects by 2030

12 Dec 2023 09:10

UK lenders face smaller impact from Basel rules than rivals, BoE says

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.

12 Dec 2023 07:16

BoE says UK lenders to be hit less than EU, U.S. rivals by Basel capital rules

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, less than for their European Union and U.S. peers.

7 Dec 2023 16:55

Director dealings: Barclays chair invests, York Holdings settles LSEG call options

(Sharecast News) - Nigel Higgins, the group chairman of Barclays, was on the buying side of the ledger on Thursday.

7 Dec 2023 15:35

IN BRIEF: Barclays Chair Nigel Higgins buys 200,000 shares

Barclays PLC - London-based consumer, business and investment bank - Chair Nigel Higgins buys 200,000 shares at GBP1.3867 each, worth GBP277,340, in London on Thursday.

5 Dec 2023 15:26

London close: Stocks mixed as investors mull fresh data

(Sharecast News) - London's financial markets finished with a mixed performance on Tuesday as investors considered key economic data and developments from both sides of the Atlantic.

5 Dec 2023 09:05

LONDON MARKET OPEN: FTSE 100 struggles after Moody's warning on China

(Alliance News) - London's FTSE 100 got off to a slow start on Tuesday, with miners falling amid fears for the Chinese economy, while Barclays shares fell after Bloomberg reported Qatar is trimming its stake in the lender.

5 Dec 2023 08:01

Qatar almost halves stake in Barclays

(Sharecast News) - Banking giant Barclays was in the red early on Tuesday after its largest shareholder made moves to offload roughly £510.0m in shares.

5 Dec 2023 07:48

LONDON BRIEFING: Ashtead in record half-year; tinyBuild cuts outlook

(Alliance News) - London's FTSE 100 is called to open lower on Tuesday, continuing a lacklustre start to the week, after tepid trade in New York overnight.

30 Nov 2023 09:57

Lloyds to shut 45 branches

(Sharecast News) - Lloyds Banking Group is to shut another 45 branches, it was confirmed on Thursday, as lenders continue to downsize their estates.

28 Nov 2023 15:40

Barclays axes 900 staff in "disgraceful" pre-Christmas move - UK union

(Alliance News) - Banking firm Barclays PLC is cutting 900 jobs in its UK business as it looks to slash costs in a "disgraceful" pre-Christmas move, trade union Unite has said.

28 Nov 2023 15:30

London close: Stocks slip after mountain of broker notes

(Sharecast News) - London's stock markets finished in the red on Tuesday as investors deliberated over the latest shop price data, as well as a deluge of broker notes.

28 Nov 2023 08:52

PRESS: Barclays eyes dropping quarter of investment bank clients - FT

(Alliance News) - Barclays PLC is exploring the possibility of dropping thousands of its investment bank clients - a quarter of its total - amid a strategic overhaul to bolster its bottom line and cut GBP1 billion of costs, the Financial Times reported on Tuesday.

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UPDATE 1-Bank of England considered bank capital buffer hike but waiting to watch risks

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