BoE's Woods says banks have enough lending capacity in pandemic

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The BoE has allowed banks to tap a reserve of capital known as the counter cyclical capital buffer to support loans up to 190 billion pounds.

“It should be enough to accommodate even an upper end estimate of what might be needed here,” Woods told a City & Financial webinar.

Royal Bank of Scotland (NYSE:RBS) Chairman Howard Davies told the webinar that banks needed more reassurance from regulators on the amount of time they would get to rebuild capital buffers once the pandemic has passed.