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IFRS 9 relief added £8bn to UK banks capital buffers in 2020

Risk.net Print this page   Special measures relaxing rules on how loan-loss provisions are deducted from regulatory capital boosted top UK banks’ core solvency ratios over 2020. Lloyds reaped the largest benefit. Without the relief, its Common Equity Tier 1 (CET1) capital ratio would have been a full 120 basis points lower at end-2020 than reported. Early on in the coronavirus crisis, the Bank of England allowed banks to ‘add back’ income put aside to cover future loan losses under IFRS 9 accounting standards into CET1 Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

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