-BOE: Bank buffers should cover global, domestic systemic risks
-BOE Carney: higher risks show resilient financial system needed
-BOE Carney: FPC to continue to monitor buy-to-let closely
-BOE FPC: bank groups on avg. need 13.6% Tier 1 capital
LONDON (MNI) - The Bank of England Financial Policy Committee,
against a backdrop of heightened stability risks, unveiled on Thursday
its detailed framework for banks' systemic risk buffers.
The systemic risk buffers, the SRBs, fit within an overall capital
framework under which the FPC reckons UK banking groups will on average
hold 13.6% of top quality, or Tier 1, capital. This is more than the
11.6% Tier 1 capital the Independent Commission on Banking recommended.