BoE Watchdog To Remove COVID-Based Bank Capital Buffer

By Alex Davidson (June 13, 2022, 2:18 PM BST) -- The Bank of England's regulatory arm said on Monday that it will begin to remove the extra capital requirement it had imposed on many lenders and investment firms in July 2020 because of the risks posed by COVID-19.

The Prudential Regulation Authority said it will inform firms individually this year on the now-reduced firm-specific requirement for the "PRA capital buffer." This refers to extra capital that they must hold against risk from fluctuations in their business as the economy changes.

"As uncertainty related to the COVID-19 outbreak has receded, this regulatory measure is no longer necessary and therefore this PRA buffer...

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