Banco Bilbao Vizcaya Argentaria SA MREL requirement
28 March 2024 - 3:44AM
RNS Regulatory News
RNS Number : 5756I
Banco Bilbao Vizcaya Argentaria SA
27 March 2024
Banco Bilbao Vizcaya Argentaria, S.A.
("BBVA"),
in accordance with the Securities Market legislation, hereby
communicates the following:
INSIDE
INFORMATION
BBVA has received a new communication
from the Bank of Spain regarding the determination of its Minimum
Requirement for own funds and Eligible Liabilities ("MREL"), set by the Single Resolution
Board ("SRB"), which has
been calculated taking into account the financial and supervisory
information as of December 31, 2022. This communication repeals and
supersedes the previous communication published on June 14, 2023
(with registration number 1887).
In accordance with this
communication, BBVA must keep, upon receipt of the communication
from the Bank of Spain, a volume of own funds and eligible
liabilities equal to 22.79% of the total risk-weighted assets
("RWAs") of its resolution
group, on a sub consolidated[1] level (the "MREL in RWAs"), of which 13.50% of the
RWAs of its resolution group should be met with subordinated
instruments (the "subordination
requirement in RWAs").
Additionally, BBVA must keep, upon
receipt of the communication from the Bank of Spain, a volume of
own funds and eligible liabilities in terms of total exposure
considered for the purposes of calculating the leverage ratio of
the 8.48% (the "MREL in
LR"), of which 5.78% in terms of total exposure considered
for the purposes of calculating the leverage ratio should be
fulfilled with subordinated instruments (the "subordination requirement in
LR").
The MREL in RWAs and the
subordination requirement in RWAs do not include the combined
capital buffer requirement which, in accordance with current
regulations and supervisory criteria, would stand at
3.61%.
The current structure of own funds
and eligible liabilities of the resolution group complies with the
MREL in RWAs, with the MREL in LR, with the subordination
requirement in RWAs and with the subordination requirement in
LR.
Madrid,
March 27, 2024
[1]
In accordance with the MPE resolution strategy
("Multiple Point of
Entry") of BBVA Group, as established by the SRB, the
resolution group consists of Banco Bilbao Vizcaya Argentaria, S.A.
and subsidiaries belonging to the same European resolution group.
As of December 31, 2022, the RWAs of the resolution group amounted
to 206,987 million euros and the total exposure considered for
calculating the leverage ratio amounted to 491,430 million
euros.
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