LONDON, April 20 (Reuters) - British banks should use their
substantial capital and liquidity buffers to support the economy
hit by the coronavirus pandemic, the Bank of England said on
Monday.
The BoE's Prudential Regulation Authority (PRA) said it
expects banks to focus on continuing to support customers.
"Banks are expected to use their liquidity buffers in doing
so, even if it means liquidity coverage ratios go significantly
below 100%," the PRA said in guidance to lenders.
The PRA said they would give lenders sufficient time after
the crisis to replenish their liquidity and capital buffers.
(Reporting by Huw Jones; Editing by Toby Chopra)