Commerzbank Aktiengesellschaft / Miscellaneous - High Priority
Commerzbank has received the decision from the European Central Bank (ECB) in the Supervisory Review and Evaluation Process (SREP). This determines the capital requirements for 2017. The Common Equity Tier 1 Requirement for 2017 for Commerzbank is 8.5 % (2016: 10.25 %).
The requirements comprise the Pillar 1 Minimum of 4.5 %, the Pillar 2 Requirement of 2.25 %, the Capital Conservation Buffer of 1.25 % and the Domestic Systemically Important Banks Buffer (D-SIB/O-SII) of 0.5 %. The currently insignificant Countercyclical Buffer is not included.
The ratio of 8.5 % compares with the CET1 ratio of 13.6 % to Basel 3 transitional rules as of 30 September 2016.
The CET1 ratio requirement with the full application of Basel 3 (valid as of 2019) for Commerzbank is 10.75 %, assuming a constant Pillar 2 Requirement. The difference from the requirement for 2017 results from full application of the D-SIB (O-SII) amounting to 1.5 % and the Capital Conservation Buffer amounting to 2.5 %. This requirement compares with the CET1 ratio of 11.8 % with full application of Basel 3 as of 30 September 2016.
In its decision the ECB has lowered its requirements on Commerzbank's Common Equity Tier 1 Requirement in a year-on-year comparison. For 2016 it had set the hurdles in the SREP at 10.25 % (Basel 3 transitional rules) and 11.75 % (Basel 3 full application).
In the SREP the ECB lays down individual capital buffers for relevant banks to further strengthen the resilience of the institutions to external shocks and increase the stability of the financial system.
Further information on the equity capital requirements placed on Commerzbank is to be found on the Internet under www.commerzbank.com/SREP2016
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|Time of Receipt:||13-Dec-2016 / 08:32 CET/CEST|
|End of Announcement||EQS News Service|