UK regulator asks banks to report leverage ratio daily from 2016

[LONDON] Britain's financial regulator on Friday announced proposals for banks and other financial firms to report and disclose what capital they hold on a daily basis from 2016 in a move designed to promote their "safety and soundness".

The Prudential Regulation Authority last year introduced new leverage ratio requirements, setting a minimum amount of capital banks must hold relative to their loans.

The move was part of global reforms introduced after the 2007-09 financial crisis to reduce the chances of banks needing public bailouts.

REUTERS