LONDON (Reuters) - Britain's banks will have to hold total capital equivalent to 8 percent of their risk-weighted assets from the start of 2015, the Bank of England said on Friday.
The central's bank's Prudential Regulation Authority, which supervises lenders, was setting out how it plans to apply new European Union bank capital rules in Britain.
The PRA has already forced big lenders to meet or exceed the new rules and Friday's consultation largely refers to smaller banks and other financial institutions that must also comply.
"Well capitalised and resilient firms are crucial for ensuring financial stability and supporting UK growth," PRA chief executive and BoE Deputy Governor Andrew Bailey said in a statement.
(Reporting by Huw Jones, editing by Chris Vellacott)
Source: http://news.yahoo.com/britain-sets-bank-capital-rules-timetable-142124989.html
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