Lloyds Banking Group has been given a boost after regulators allowed the lender to free up around £1 billion in capital, potentially paving the way for further share buybacks. Lloyds Banking Group has been given a boost after regulators allowed the lender to free up around £1 billion in capital, potentially paving the way for further share buybacks. The Bank of England’s Prudential Regulation Authority (PRA) set Lloyds a lower level of the so-called “systemic risk buffer” – a requirement designed to boost the capital strength of retail banks. It came within a wider announcement by the PRA on the capital buffer rates for large retail banks and building societies, which will apply from August 1. This is seen as boosting the group’s share buyback capacity by the same amount.

Source: Irish Independent May 01, 2019 10:52 UTC