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Company News

Bank of England to propose simpler rules for small banks

LONDON, Sept 22 (Reuters) - Britain will adopt less bureaucratic financial rules after Brexit, starting with simpler regulation of small banks, Bank of England Deputy Governor Sam Woods said on Tuesday.

The BoE will propose the simpler rules for smaller lenders in a month or so, a step that would have been impossible to agree if Britain was still in the European Union, Woods told a City Week online event.

Reporting by Huw Jones, editing by Louise Heavens

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