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Special measures relaxing rules on how loan-loss provisions are deducted from regulatory capital boosted top UK banks’ core solvency ratios over 2020.
Lloyds reaped the largest benefit. Without the relief, its Common Equity Tier 1 (CET1) capital ratio would have been a full 120 basis points lower at end-2020 than reported.
Early on in the coronavirus crisis, the Bank of England allowed banks to ‘add back’ income put aside to cover future loan losses under IFRS 9 accounting standards into CET1
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There is “no magic bullet” Hiscox can use to remedy the hit to its reputation suffered through the long-running disputes over business interruption cover, the
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Horton,
pictured, will stay at Beazley until the end of the month and will start work at QBE on 1 September and be based in Sydney.
QBE has been searching for a new leader since Pat Regan left
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Only changing Value Added Tax was lower on the list of options.
The survey of 1044 adults across the UK ranked income tax for high earners and corporation tax as the two most favoured routes if Rishi
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