Bank of England gives banks breathing space over crisis plans

LONDON: Britain's main banks will have extra time before they have to say publicly how they could be closed down in a crisis, the Bank of England proposed on Wednesday.

Banks were required to submit a report to the BoE this month assessing how they would be wound up in a crisis without needing taxpayer support, and publish a summary next June. The BoE has proposed a one-year delay for both deadlines.