IFRS 9 transition eases UK banks’ path through stress tests
Aggregate CET1 ratio 130bp lower without transitional relief
All seven UK banks and building societies passed the Bank of England’s stress tests – although without measures used to smooth the transition to new accounting standard IFRS 9, the number would have come close to tripping the watchdog’s red lines.
The aggregate Common Equity Tier 1 (CET1) capital ratio for the seven participants – Barclays, HSBC, Lloyds, Nationwide, RBS, Santander UK and Standard
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