The Bank of England said on Friday it would delay tougher bank capital rules by a year to January 2027 to get clarity on what the United States will do under Donald Trump as president, prompting the European Union to say it would also weigh its options.

The European Union – which currently plans to implement the reforms a year earlier from January 2026 – said it would consider its next steps, but said it was in “everyone’s interest” to implement them fully and on time.

Shares in British banks made modest gains after the BoE announcement, with Barclays up 1.8%, Lloyds up 1.5% and HSBC up 0.7%, compared to a 1.3% gain for the wider FTSE 100 index.

Source: UKFINANCE