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Bank of England says banks can exclude Bounce Back loans from leverage rules

LONDON, May 4 (Reuters) - The Bank of England said it will allow banks to exclude state-backed small company loans made under Britain's new emergency coronavirus Bounce Back credit scheme from leverage rules, removing a possible disincentive for banks to lend.

"The PRA (Prudential Regulation Authority) is offering a modification by consent for banks subject to the UK Leverage Ratio Part of the PRA Rulebook to exclude loans under this scheme from the leverage ratio total exposure measure, if they choose to do so," the BoE said in a statement. (Writing by William Schomberg; editing by Stephen Addison)