April 11, 2018 / 1:01 PM / 12 days ago

BRIEF-Moody's Says UK Banks To See 800 Mln Pound Rise In Funding Costs

April 11 (Reuters) - Moody’s:

* MOODY’S SAYS UK BANKS TO SEE 800 MILLION POUND RISE IN FUNDING COSTS AS CHEAP BOE LENDING ENDS

* MOODY’S SAYS END OF THE BANK OF ENGLAND’S TERM FUNDING SCHEME, ITS PREDECESSOR, FUNDING FOR LENDING SCHEME, ARE MODERATELY CREDIT NEGATIVE FOR UK BANKING SECTOR

* MOODY’S SAYS CLOSURES OF BOE’S TERM FUNDING SCHEME & THE FUNDING FOR LENDING SCHEME WILL LEAD TO A SLIGHT INCREASE IN UK BANKS’ INTEREST EXPENSES

* MOODY’S SAYS HIGHER INTEREST EXPENSE DUE TO CLOSURES OF THE TWO BOE’S SCHEMES WILL WEIGH ON UK BANKS’ NET INTEREST MARGINS

* MOODY'S SAYS UK BANKS' MARKET FUNDING AS A PROPORTION OF TANGIBLE BANKING ASSETS WILL DECLINE OVER THE NEXT FOUR YEARS Source text: (bit.ly/2GR41Fp)

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