Top UK banks cut CVA charges by 9% in Q2

The top five UK banks saw their aggregate capital charge for credit valuation adjustment (CVA) fall by £96 million ($119 million) in the second quarter, reversing much of the increase disclosed in Q1.

Barclays, HSBC, Lloyds, RBS and Standard Chartered together had to hold £962 million of capital for CVA at end-June, down 9% from £1.1 billion in the previous quarter.

Barclays reported a CVA capital charge of £275 million for Q2, down 17% from £330 million at end-March.

HSBC posted an 8%

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