1014 GMT - The delay to the implementation of Basel 3.1 rules by the U.K. is a positive nod to competitiveness and growth, UBS says in a research note. The U.K.'s Prudential Regulation Authority pushed back the deadline to January 2027 pending clarity from the U.S. following the presidential inauguration. The banking regulations are potentially more material for smaller firms like Close Brothers and modest for large U.K. banks, analysts Jason Napier and Sanjena Dadawala write. Close Brothers and Paragon benefit from the delay as they will have more time to get internal ratings-based approvals, while it is also helpful to get clarity on potential motor-finance claims, they add. Yet investors are mainly focused on Barclays's U.S. investment banking activities and how the incoming Trump administration's stance on deregulation might affect these, they say. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

January 20, 2025 05:14 ET (10:14 GMT)

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