The Bank of England will require banks to hold 3p for every £1 they lend as a safety net, lower than the 4p expected by many.
From 2019 the ratio will be 4.05%. Chancellor George Osborne has said that the impact on mortgages needs to be taken into account.
Share prices for major banking groups rose on the news, with Barclays leading with an 8% climb.
Times, 52
FT Weekend, 3
Daily Telegraph, 29
Guardian, 45
