The Bank of England has announced a one-year delay to key provisions in post-financial crisis banking reforms as part of a raft of changes designed to ease capital requirements for British lenders.
The central bank said it would delay from 2027 to 2028 the application of the part of the so-called Basel III package that applies to the wholesale trading activities of investment banks, to allow more time for the US to decide how to apply them.
The BoE said the “fundamental review of the trading book” rules would also be eased by adding flexibility for banks’ investments in funds.
This is a developing story