Bank shares jumped on Friday after the Bank of England outlined a new regime to assess the financial strength of the UKs biggest financial institutions that was less draconian than feared.
The chancellor, George Osborne, said he wanted an assessment of the impact of the new rules on lending before the Bank of England would be allowed to toughen them any further amid fears mortgage rates could start to rise if policymakers became too stringent in forcing the banks to hold more capital.
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