BoE relief waives record £718bn off UK banks’ leverage exposures

On average, the UK leverage ratio of the top five lenders stood 80bp points higher than the CCR iteration in Q1

A benign Bank of England (BoE) rule allowed the top five UK banks to lop an aggregate £717.5 billion ($1.02 trillion) off their leverage ratio exposures in the first quarter – the most since the European Union and UK leverage regimes diverged in 2016.

UK-based lenders have been able to deduct qualifying central bank balances for their exposure measures for the UK-specific leverage ratio, something not permitted by the EU-wide measure under the Capital Requirements Regulation (CRR) regime.

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