BoE Likely To Demand Banks To Build Capital Buffers
01 Dezembro 2015 - 2:33AM
RTTF2
The Bank of England is set to demand banks to set aside capital
as buffer as soon as in March, in order to absorb losses in case of
stress and support the real economy.
In the semi-annual Financial Stability Report, the Financial
Policy Committee said Tuesday it intends to make active use of the
time-varying countercyclical capital buffer.
By moving early, the FPC expects to be able to vary the
countercyclical capital buffer more gradually.
The FPC expects the countercyclical capital buffer to be in the
region of 1 percent of risk-weighted assets. Currently, the buffer
rate is at zero percent.
Samuel Tombs, chief UK economist at Pantheon Macroeconomics,
said he doubts that this will do much to subdue credit growth,
since banks already hold more capital than they need.
Banks actions to raise significantly more capital over recent
years mean that a gradual recovery in lending remains in prospect,
providing only modest support to the economic recovery at a time
when fiscal squeeze and strong pound will be depressing growth, he
added.
Further, the banking system would require Tier 1 equity of
around 13.5 percent of risk-weighted assets before 2019, the BoE
said.
The central bank also released the results of the 2015 stress
test. The report showed that all 7 major banks passed the test.
The FPC noted that that no macroprudential actions on bank
capital were required in response to the 2015 stress test.
The test did not reveal capital inadequacies for five out of the
seven banks. Those five banks were Barclays, HSBC, Lloyds Banking
Group, Nationwide Building Society, Santander UK.
However, Royal Bank of Scotland Group did not meet its
individual capital guidance after management actions. Standard
Chartered, which has heavy exposure to the emerging markets, was
found to miss its tier 1 capital ratio target of 6 percent.
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