Countercyclical buffer relief to save top UK banks £7bn in capital
BoE expects £190 billion of lending to be supported by CCyB cut
In a bid to combat the economic fallout of the coronavirus, the Bank of England released UK banks from the countercyclical capital buffer (CCyB), a ‘rainy day’ equity requirement. The move should support up to £190 billion of bank lending, the BoE said.
The seven major UK lenders – Barclays, HSBC, Lloyds, Nationwide, RBS, Santander UK and Standard Chartered – should see their Common Equity Tier 1
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