April 27, 2020 / 4:07 PM / a month ago

BoE says UK state credit guarantees should limit banks' loan risks

LONDON, April 27 (Reuters) - The British government’s 80% guarantees to banks for emergency coronavirus-related lending to companies should generally reduce the amount of capital banks need to cover their loans, the Bank of England said on Monday.

“The schemes do not contain features that would render these guarantees ineligible for recognition as unfunded credit risk protection, and the effects of these guarantees would appear to justify such treatment,” the BoE said. (Reporting by David Milliken Editing by William Schomberg)

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