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Bank of England gives banks breathing space over crisis plans

Credit: REUTERS/TOBY MELVILLE

Britain's main banks will have extra time before they have to say publicly how they could be closed down in a crisis, the Bank of England proposed on Wednesday.

LONDON, Oct 28 (Reuters) - Britain's main banks will have extra time before they have to say publicly how they could be closed down in a crisis, the Bank of England proposed on Wednesday.

Banks were required to submit a report to the BoE this month assessing how they would be wound up in a crisis without needing taxpayer support, and publish a summary next June. The BoE has proposed a one-year delay for both deadlines.

(Reporting by Huw Jones; Editing by Catherine Evans)

((huw.jones@thomsonreuters.com; +44 207 542 3326; Reuters Messaging: huw.jones.thomsonreuters.com@reuters.net))

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