BoE governor says it has not forgotten lessons of financial crisis, as it eases capital rules

The Bank of England’s lower capital requirements for banks due to come into force in 2027 Photograph: Yui Mok/PA

The Bank of England governor, Andrew Bailey, has attempted to reassure that the lessons of the 2008 financial crisis have not been forgotten, as he announced plans to loosen capital rules for high street banks for the first time since the global crash.

The central bank announced on Tuesday that it will lower capital requirements related to risk-weighted assets by one percentage point to about 13%, reducing the amount lenders must hold in reserve.