French banks have unveiled the expected improvements to their leverage ratios following a European court’s ruling that deposits held at state-backed institutions should be excluded from their calculation.

The July 13 verdict reversed a decision by the European Central Bank (ECB) that forced French dealers to include customer savings placed at the state-owned Caisse des Dépôts et Consignations in their measure of total exposures. The leverage ratio is calculated by dividing Tier 1 capital by