By Huw Jones LONDON (Reuters) -The Bank of England on Wednesday said it would delay by six months to July 2025 its roll out of the final leg of ...
By Huw Jones LONDON -The Bank of England on Wednesday said it would delay by six months to July 2025 its roll out of the final leg of international bank capital rules that began after theSaltWire's Atlantic regional weather forecast for September 27, 2023 | SaltWireLONDON -The Bank of England on Wednesday said it would delay by six months to July 2025 its roll out of the final leg of international bank capital rules that began after the global financial crisis over a decade ago.
Instead, the BoE has decided to move in line with the United States, where the Federal Reserve has said it would start its roll out in July 2025. UK Finance, a banking industry body, said its members were already dedicating huge amounts of resources to preparing for the new rules. "With this in mind, we would urge the Prudential Regulation Authority to finalise its requirements by Easter 2024, rather than mid-Summer, to give firms the certainty they need to plan effectively," said Simon Hills, UK Finance's director for prudential policy.
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