Bank of England gives banks breathing space over crisis plans


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))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.