UK banks count cost of EU software capital reversal

Top UK banks’ solvency ratios would lose an average of 29 basis points from a reversal of European Union rules that allow investments in software to count as regulatory capital.

The average Common Equity Tier 1 (CET1) ratios of Lloyds, HSBC, Standard Chartered, NatWest and Barclays rose from 15.6% to 16% in the three months to end-December.

But a hefty chunk of this increase was the result of newly-enacted EU rules that stop software intangibles from being subtracted from CET1 capital – a

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