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Metro Bank PLC on Tuesday said the UK Prudential Regulation Authority has reduced its Pillar 2A capital requirement to 0.5% from 1.1%, effective as of Monday this week.
Further, the London-based challenger bank's minimum requirement for own funds & eligible liabilities, or MREL, has been reduced to 17%. MREL is an EU banking regulatory requirement for lenders to maintain equity and eligible debt should it require a bail out.
Shares in Metro Bank were up 0.3% to 77.75 pence each on Tuesday morning, though they hit an intraday high of 80.50p earlier.
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