The banks may face resistance from regulators towards relaxing rules for smaller players after some have had problems. The smaller banks say the competition push has neglected.
The Bank of England is due next year to reassess the MREL principles and thresholds. UK Finance, which represents Britain’s banks, has called for the.
These six have held 70% of the mortgage market since 2009, according to information from UK Finance.
Four banking sector sources said these so-called challengers have stepped up lobbying in encounters with the central bank and finance ministry officials in recent months.
They want an easing of requirements for holding particular debt geared toward shielding taxpayers from bailing out banks.