Following the communication received from the ECB in relation to the 2021 Supervisory Review and Evaluation Process (SREP), UniCredit's Pillar 2 Capital Requirement (P2R) is confirmed at 175 basis points [1].
UniCredit shall respect from 1 March 2022 the following capital requirements on a consolidated basis:
- 9.03 per cent CET1 ratio
- 10.86 per cent Tier 1 ratio
- 13.30 per cent Total Capital ratio
The above capital ratios include the Combined Buffer Requirement to be met with CET1 instruments, composed by 2.50 per cent Capital Conservation Buffer (CCB), 1.00 per cent G-SIB buffer and 0.05 per cent Countercyclical Capital Buffer (CCyB) [2].
As of 31 December 2021, UniCredit's capital ratios on a consolidated basis stood at:
- 15.03 per cent CET 1 ratio, fully loaded
- 15.82 per cent CET 1 ratio, transitional
- 17.94 per cent Tier 1 ratio, transitional
- 20.14 per cent Total Capital ratio, transitional
Milan, 3 February 2022
[1] Following CRD V Art. 104a, banks shall meet the Pillar 2 Capital Requirement (P2R) with at least 75% of Tier 1 capital and at least 56.25% of Common Equity Tier 1 (CET1) capital.
[2] As of 31 December 2021. The CCyB depends on UniCredit's exposure towards the countries where countercyclical buffer rates are or will be set, therefore it may vary on a quarterly basis.
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