LONDON - British consumers will get a three-month freeze on loan and credit card payments to weather the coronavirus epidemic, under plans outlined by the country's financial regulator on Thursday.

The "stop-gap" package complements relief already announced by the government to support mortgage-holders, furloughed staff, renters and the self-employed. It includes pledges to slash interest rates on arranged overdrafts up to 500 pounds to zero, for up to three months.

The Financial Conduct Authority said it was conducting a brief public consultation until next Monday, and the measures would be expected to come into force by April 9. It will make a further announcement about the measures next week.

"These measures would provide an expected minimum level of financial support for consumers who until now have been financially stable," FCA interim Chief Executive Christopher Woolard said.

"Where consumers can still afford to make payments, they should as normal, and this is likely to be in their best long-term interest to continue to do so."

The guidance would not prevent companies from offering more generous assistance to their customers, and some already are, Woolard said.

The FCA, which supervises banks and credit providers across Britain, also said consumers using any of these temporary measures should not see their credit rating affected.

(Reporting By Sinead Cruise and Huw Jones; Editing by Pravin Char) ((sinead.cruise@thomsonreuters.com; 020 7542 5154; Reuters Messaging: sinead.cruise.thomsonreuters.com@reuters.net))