Bank of England cuts CCB to 0% to support credit supply
In wake of Brexit uncertainty, concerns over supply of credit ‘taken off the table’, says Bank of England governor Carney
The Bank of England reduced the counter-cyclical capital buffer (CCB) rate from 0.5% to 0% of banks' UK exposures today (July 5).
Governor Mark Carney said this would serve to reduce regulatory capital buffers by £5.7 billion ($7.5 billion), which raises the banking sector's capacity for lending to UK households and businesses by "up to £150 billion".
He stressed the change in buffer would give the UK banks the "flexibility" they needed to continue to lend to UK households and businesses, "even
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