EU systemic banks added €9bn to capital through IFRS 9 break

Regulatory relief allowing lenders to phase-in the impact of higher loan-loss reserves on their solvency ratios boosted the core capital of systemic European banks by €9.2 billion ($10.9 billion) as of end-2020.

Changes to accounting framework IFRS 9, ushered in following the outbreak of the coronavirus crisis, strengthened the Common Equity Tier 1 (CET1) capital ratios of these firms by 29 basis points on average.

Across the seven systemic lenders that applied the relief, aggregate CET1

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