trending Market Intelligence /marketintelligence/en/news-insights/trending/VY7kxlPGJct2-DGRmDYDpg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Coventry Building Society lowers CET1 ratio over asset calculation error

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


Coventry Building Society lowers CET1 ratio over asset calculation error

Coventry Building Society lowered its common equity Tier 1 ratio as of June 30 by 1.6 percentage points to 32.6% from 34.2% after it found that it had mistakenly calculated its risk-weighted assets.

The company said that while updating internal ratings-based models it uses to calculate RWAs, it found that it failed to apply the necessary 6% scalar to the core model outputs, which would have increased its total RWAs by 4.6%.

Despite the error, the building society said it expects its CET1 ratio to reflect a considerable capital surplus above regulatory requirements, noting that the change will not affect its leverage ratio, which the company expects to be its binding capital measure in the future.