BoE may diverge from EU on software as capital

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The Bank of England’s Prudential Regulation Authority has signalled it may drop a European Union rule allowing software spending to count towards firms’ capital ratios.

There are already strong signs that the BoE is considering dropping the regulation. The PRA opened a consultation on the rule on February 12, two days after BoE governor Andrew Bailey publicly raised doubts about the practice.

The UK regulator issued statements in June and December that also raised concerns over the treatment

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