Favorably for creditors, Commerce's capitalization is strong, as reflected in its above-average Moody's adjusted tangible common equity/risk-weighted assets ratio of 13.2% at 30 September 2020, protecting the bank against unexpected losses. Moreover, because Commerce's return on equity is also above-average, its management team may be comparatively less aggressive in returning capital to shareholders in an improving economic environment. Commerce's stable outlook reflects Moody's view that there will be little change in the bank's strong credit metrics over the next twelve to eighteen months. Moody's regards the coronavirus outbreak as a social risk under its ESG framework, given the substantial implications for public health and safety. Today's action incorporates the breadth and severity of the shock, and the deterioration in credit quality and capital it is going to trigger.