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BOE’s Tucker, Bailey Say 3% Leverage Ratio Should Apply Now

Bank of England deputy governors Paul Tucker and Andrew Bailey said it’s right for U.K. regulators to impose a 3 percent leverage ratio immediately on banks, five years earlier than plans agreed to by global regulators.

“There is very clear view from our side that a 3 percent leverage ratio is a sensible minimum point to have institutions at, and those who are not at to have plans to get to,” Bailey told lawmakers in Parliament in London today. “We are trying to establish what I would call a minimum baseline.”