Many large European banks recorded year-over-year declines in their liquidity coverage ratios in the third quarter of 2022, data compiled by S&P Global Market Intelligence shows.

In a sample of 34 of Europe's largest banks, 21 reported a deterioration in their liquidity coverage ratio — which measures banks' ability to withstand cash outflows — over the period, and 13 recorded an improvement.

Portuguese bank Caixa Geral de Depósitos SA's liquidity coverage ratio was 339.0%, the highest among the sample. This is despite its ratio falling 36.03 percentage points on a yearly basis.

At 124.88%, Sweden-headquartered Skandinaviska Enskilda Banken AB (publ) had the lowest level of liquidity coverage. Spain's CaixaBank SA had the largest year-over-year decrease in the sample at 51.0 percentage points. Norway's DNB Bank ASA posted the highest percentage-point rise over the period, at 29.81.

Austria-based Raiffeisen Bank International AG and British lender Lloyds Banking Group PLC were among a handful of banks to post a yearly improvement in their liquidity coverage ratios in the third quarter.

On a quarterly basis, 22 of the 34 lenders reported a decline in their ratios. The ratio is calculated by dividing a company's stock of high-quality liquid assets by total net cash outflows over a 30-day period.

CaixaBank's liquidity coverage ratio fell 35.75 percentage points from the second quarter, the sharpest decrease in the sample. The largest increase was at Raiffeisen Bank International, which had a 23.72-percentage-point rise to 189.40%.

Credit Suisse Group AG was among the most liquid banks, with its ratio up 1.48 percentage points to 192.0%. The Switzerland-based bank recently warned that it expects a pretax loss of up to roughly CHF1.5 billion in the final quarter of 2022 amid deposit and net asset outflows that are affecting its flagship wealth management division.

It said in October that it had fallen below certain legal entity-level regulatory requirements as a result of these outflows, but that the core requirements of the liquidity coverage ratio at group level have been maintained at all times.

* Download an Excel file on European bank financials.  * Access Credit Suisse Group's capital adequacy data.  * Access the aggregate liquidity data for U.K. banks.