Alliance and Leicester to operate under Basel II rules

After working on its capital plans the Alliance and Leicester bank are to be allowed to operate under the Basel II framework. The decision, made by the UK regulator the Financial Services Authority (FSA), came after the bank applied to the FSA to operate under the new guidelines due to be phased in in Europe this year.

Commenting on the news, an Alliance and Leicester statement stated, "As previously indicated, Alliance and Leicester expects its regulatory capital requirement to reduce under

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