Economy

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57. Barclays, U.K. Lenders Surge on ‘Bank-Friendly’ BOE Ratio

Sat Nov 1, 2014, 09:43 AM

Nov 2014

http://www.bloomberg.com/news/2014-10-31/boe-sets-4-05-bank-leverage-rule-in-push-to-ensure-stability.html

Barclays Plc (BARC) led banks higher in London trading, soaring the most in more than 18 months, after the Bank of England set a minimum regulatory ratio at a lower-than-expected level and gave firms until 2019 to comply.

Britain’s biggest banks will face a basic leverage ratio of 4.05 percent, which could rise to 4.95 percent if needed to cool excess credit or balance-sheet growth, the BOE, led by Governor Mark Carney, said today. Analysts at Credit Suisse Group AG (CSGN) had estimated the ratio could have been set as high as 7.5 percent.

“It is absolutely at the lower end of people’s expectations,” said Chirantan Barua, a banking analyst at Sanford C. Bernstein Ltd. in London. “This is probably the most bank-friendly regulation we have seen. That’s both in terms of the levels of capital set and in terms of time the banks have been given to beef up capital.”

Barclays climbed 8.2 percent, the most since February 2013, to 240.8 pence. Lloyds Banking Group Plc (LLOY) advanced 2.6 percent to 77.13 pence.

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