LONDON, Dec 7 (Reuters) - Britain's banks will be given anextra year to December 2017 to prepare for publishing moredetailed information on their leverage ratios or the broadmeasure of capital to non risk-weighted assets, the Bank ofEngland said on Monday.
The BoE's supervisory arm, the Prudential RegulationAuthority (PRA), said it would go ahead with imposing a strictermethod on UK lenders for calculating leverage ratios thanrequired under global rules.
In July it proposed that banks use the daily average of theratio for calculating the end of quarter figure for publicationto avoid "window dressing", or attempts to flatter the figurearound the reporting date.
Some banks said this would be burdensome, but the BoE saidit would go ahead with daily averaging, though it has agreed todelay the start date for publication to give lenders more timeto get the reporting system right.
"Based on the above, the PRA considers it appropriate toextend the transitional period for daily averaged disclosuresfrom 12 months, that is ending on 31 December 2016, to 24months, that is ending on 31 December 2017," the PRA said in astatement.9 (Reporting by Huw Jones, editing by Louise Heavens)