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UniCredit S.p.A.: Eba Test Results (2011-12-09)

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RB-W 111:UniCredit: EBA Test Results

Firma: UniCredit S.p.A.
Spis treści:
1. RAPORT BIEŻĄCY
2. MESSAGE (ENGLISH VERSION)
3. INFORMACJE O PODMIOCIE
4. PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ

Spis załączników:
  1. EBA_eng.pdf PR with tables

KOMISJA NADZORU FINANSOWEGO









Raport bieżący nr 111 / 2011
Data sporządzenia: 2011-12-09
Skrócona nazwa emitenta
UniCredit
Temat
UniCredit: EBA Test Results
Podstawa prawna
Art. 56 ust. 1 pkt 2 Ustawy o ofercie - informacje bieżące i okresowe
Treść raportu:
PRESS RELEASE

UniCredit: EBA Test Results

UniCredit notes the announcements made today by the European Banking Authority and competent National Supervisor regarding the capital exercise, which demonstrate the following result for UniCredit.

The capital exercise proposed by the EBA and agreed by the Council on 26 October 2011 requires banks to strengthen their capital positions by building up a temporary capital buffer against sovereign debt exposures to reflect current market prices. In addition, it requires them to establish a buffer such that the Core Tier 1 capital ratio reaches a level of 9% by the end of June 2012. The amount of any final capital shortfall identified is based on September 2011 figures. The amount of the sovereign capital buffer will not be revised.

71 banks across Europe, including UniCredit, were subject to the capital exercise whose objective is to create an exceptional and temporary capital buffer to address current market concerns over sovereign risk and other residual credit risk related to the current difficult market environment. This buffer would explicitly not be designed to cover losses in sovereigns but to provide a reassurance to markets about banks’ ability to withstand a range of shocks and still maintain adequate capital.
Following completion of the capital exercise conducted by the European Banking Authority, in close cooperation with the competent national authority, the exercise has determined that UniCredit has a capital shortfall of 7.974 €mn which must be addressed by end June 2012, (it has increased from 7.379 mn reported in October, due to the third quarter net loss).

UniCredit will ensure that by the end of June 2012 the bank will adhere to the 9% core tier 1 ratio and, to this end, submit a plan to the national supervisory authority. In this plan the bank will set out the proposed mix of actions to meet the required 9% target thereby bringing the shortfall to zero by June 2012. The plan – to be submitted by January 20, 2012 – will be discussed with the national competent authorities, in consultation with the relevant college of supervisors and the EBA.

In this respect, including the restructuring of CASHES and the recently announced capital increase, UniCredit will have a capital buffer of €1.7bn as a consequence of Core Tier 1 ratio (with adjusted Cashes and the announced rights issue) of 9.4% with respect to the 9% threshold requested.
The capital to be raised and measures to be taken by the banks are designed to restore confidence in market participants, to facilitate banks’ access to the funding markets as well as to put them in the condition to continue providing financial support to the real economy.

The methodology underlying the capital exercise was outlined by the EBA prior to its announcement to ensure consistency across all banks in the EU banking system involved in the exercise.

For more details on the EU measures to restore confidence in the banking sector please refer to EBA
website (www.eba.europa.eu).

Milan, December 8, 2011

Enquiries:
Media Relations: Tel. +39 02 88628236;
e-mail: MediaRelations@unicredit.eu

Investor Relations: Tel: +39 02 88628715;
e-mail: InvestorRelations@unicredit.eu
Załączniki
Plik Opis

EBA_eng.pdf
EBA_eng.pdf
PR with tables

MESSAGE (ENGLISH VERSION)






PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
Data Imię i Nazwisko Stanowisko/Funkcja Podpis
2011-12-09
Wioletta Reimer
Attorney of UniCredit

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