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UK regulator wants banks to report leverage ratios based on daily averages

Reuters - UK Focus

(Corrects to clarify ratios not being published daily)

LONDON, July 10 (Reuters) - Britain's financial regulator on Friday announced proposals for banks and other financial firms to report and disclose what capital they hold based on daily averages from 2016 in a move designed to promote their "safety and soundness".

The Prudential Regulation Authority last year introduced new leverage ratio requirements, setting a minimum amount of capital banks must hold relative to their loans.

The move was part of global reforms introduced after the 2007-09 financial crisis to reduce the chances of banks needing public bailouts.

(Reporting by Matt Scuffham; Editing by Sinead Cruise and Keith Weir)