As a result of the tangible strengthening and de-risking actions of its balance sheet and considering the progress made within the Transform 2019 plan, the ECB (European Central Bank) has improved the risk evaluation on UniCredit versus 2016. As a consequence, within the Supervisory Review and Evaluation Process (SREP), the Single Supervisor has lowered UniCredit's SREP Pillar 2 Capital Requirement (P2R) by 50 basis points to 200 basis points.
UniCredit is required to meet the following transitional capital requirements on a consolidated basis from 2018:
- 9.20 per cent CET1 ratio,
- 10.70 per cent Tier 1 ratio,
- 12.70 per cent Total Capital ratio.
All transitional capital ratios are inclusive of 2.00 per cent P2R, 1.88 per cent Capital Conservation Buffer (CCB), 0.75 per cent G-SIB buffer and an estimated 0.07 per cent Countercyclical Capital Buffer (CCyB). The CCB and the G-SIB buffers, as required by CRD IV, will reach 2.50 per cent and 1.00 per cent respectively on a fully loaded basis in 2019, while CCyB depends on UniCredit's exposures towards the countries where countercyclical buffer rates are or will be set, therefore it may vary on a quarterly basis.
As of September 30, 2017, UniCredit transitional capital ratios on a consolidated basis stand at:
- 13.94 per cent CET 1 ratio,
- 15.32 per cent Tier 1 ratio,
- 18.19 per cent Total Capital ratio.
Milan, December 11, 2017
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