Regulator gives Lloyds a boost

Lloyds Banking Group has been given a boost after regulators allowed the lender to free up some £1 billion in capital, potentially paving the way for further share buybacks.

The Bank of England’s Prudential Regulation Authority set Lloyds a lower level of the socalled “systemic risk buffer” a requirement designed to boost the capital strength of retail banks. It came within a wider announcement by the PRA.