Covid measures burnished NatWest’s capital ratios in Q3

NatWest’s third-quarter capital ratios were buffed up thanks to the rash of Covid relief measures introduced by UK and European regulators. Capital add-backs and exposure deductions boosted the bank’s UK leverage ratio by over 30 basis points, and its Common Equity Tier 1 (CET1) ratio by more than 100bp.

As of end-September, the firm’s CET1 ratio was 18.2%. Without a transitional arrangement allowing the bank to exclude some of the capital-sapping effects of IFRS 9 loan-loss accounting, it

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