Bank Capital under Basel 3: Open Issues
|
|
- Mervin Woods
- 5 years ago
- Views:
Transcription
1 Bank Capital under Basel 3: Open Issues and Foreseeable Effects Giuliano Iannotta - Andrea Resti carefin@unibocconi.it
2
3 Agenda The definition of capital: from Basel 2 to Basel 3 New opportunities (?): contingent capital New limits on bank capital securities An impact analysis based on issues performed by large European banks in New deductions from bank common equity Minority interest Deferred tax assets Final remarks
4 Agenda The definition of capital: from Basel 2 to Basel 3 New opportunities (?): contingent capital New limits on bank capital securities An impact analysis based on issues performed by large European banks in New deductions from bank common equity Minority interest Deferred tax assets Final remarks
5 From Basel 2 to Basel 3 min 8% Tier 1 (min 4%) Tier 2 Tier 3 Core (min 2%) Lower Upper Lower Basel 2 Common Equity Perpetual, deferrable/non-cumulative coupons Sub, Min 10y maturity, deferrable coupons Sub, Min 5y maturity, non-deferrable coupons Short-term sub notes to cover market risk Step-up ( incentive to redeem ) allowed in Lower T1 and T2 Basel 3: Simplification, Quality, Quantity Simplification - Tier 1 and Tier 2 only Quality Focus on common equity and deductionsd Quantity From 8% to 10.5% (or even higher)
6 From Basel 2 to Basel 3 (cont d) Basel 2 Basel 3 Min 2% 4.5% Common Equity (CE) Conservation Buffer % Required 7% Tier 1 Min 4% 6% Required 6% 8.5% Total Capital Min 8% 8% (Tier 1+Tier2) Basel 3: Simplification, Required Quality, 8% Quantity 10.5% Macro-pru Counter-cycl. Buffer 0-2.5% SIFIs tbd - Incentives to redeem (e.g. step up are banned) - Contingent t capital may be allowed (Tier 1) - Deductions from CE : e.g. minority interests and DTAs
7 Agenda The definition of capital: from Basel 2 to Basel 3 New opportunities (?): contingent capital New limits on bank capital securities An impact analysis based on issues performed by large European banks in New deductions from bank common equity Minority interest Deferred tax assets Final remarks
8 Contingent Capital (CC) Might be used as regulatory capital under Basel 3 Can be classified as follows First generation: the issuer as the right but not an obligation (eg, RBC s instrument issued in 2000 to Swiss Re) Second generation: automatic conversion Equity purchase: sub notes which convert into equity (eg, Lloyds issue in 2009) Loss guarantee: write offs or cash payment (eg, Rabobank issue in 2010) Only second generation CC for regulatory purpose Smart idea: why not used yet?
9 Trigger event and conversion price Discretionary (Self-fulfilling prophecies? ) (Late response?) Bank-specific (Moral hazard?) Trigger Event Dual Objective Systemic (Incentive to take systemic risk?) (Keep out of troubles in crisis?) Discretionary (Self-fulfilling prophecies? ) (Late response?) Book values (Not forward looking?) (Manipulated by managers?) Market values (Market manipulation?) (Noisy Unintended triggers?) Conversion Price (Equity purchase only) Fixed (Uncertainty? - Death Spirals?) Current Flexible
10 Lloyds Enhanced Capital Notes Second generation Equity purchase type Exchange offer - Sub notes (Lower Tier 2) for outstanding Tier 1 and Tier 2 securities Trigger Event: Core Tier 1 ratio < 5% Conversion Price: Fixed Outcome: extremely successful, but... Exchange offer on impaired outstading securities 200 bps over 5y subordinated debt
11 Rabobank Senior Contingent Notes Second generation Loss guarantee type Senior notes (not eligible as regulatory capital) Trigger Event: equity ratio < 7% Upon conversion: 75% write-off and 25% redeemed Outcome: extremely successful, but % coupon (premium on Lower Tier 2 sub bdebt) b) Trigger event is extremely unlikely: equity ratio at 12.5%, bank always profitable, profits retained carefin.u uniboccon ni.eu www.
12 Open issues on Contingent Capital Potentially important role Details to be fine-tuned Raters very concerned : will CC have a rating? Swiss supervisors introduced (Oct 2010) CC for SIFIs (Credit Suisse and UBS): Max 3% as conservation buffer (trigger at 7% equity) Systemic surcharge - 6% (trigger at 5% equity) Though... conservation buffer is 8.5% (vs 2.5%) carefin.u uniboccon ni.eu www.
13 Agenda The definition of capital: from Basel 2 to Basel 3 New opportunities (?): contingent capital New limits on bank capital securities An impact analysis based on issues performed by large European banks in New deductions from bank common equity Minority interest Deferred tax assets Final remarks
14 Bank capital issues in Europe (00-09) Purpose: How many issues are not Basel 3-compliant? Term structure on non-compliant securities Focus on the incentive to redeem Scope: top 5 banking groups (by 2009 assets) in France, Germany, Italy, Spain, and UK Data: DCM, Thomson, Bloomberg, annual reports Results: 982 issues (including govenment plans), about 800 bn 128 non-compliant issues out of 775 (non-expired, non-govt) 79% will expire by the end of 2013 carefin.u uniboccon ni.eu www.
15 Composition Lower Tier 2 30% Tier 3 1% Core Tier 1 29% Upper Tier 2 6% Govt. plans 14% Lower Tier 1 20%
16 Distribution by year of issuance 230 bn carefin.u uniboccon ni.eu www Govt. support plan (*) Core Tier 1 Lower Tier 1 Upper Tier 2 Lower Tier 2 Tier 3
17 Compliance to Basel Compliant Compliant Noncompliant Noncompliant 0 Tier 1 Tier 2 Compliant Non-compliant Loss absorbtion? Full discretion? carefin.u uniboccon ni.eu www.
18 Term structure of non-compliant issues carefin.u uniboccon ni.eu www Tier Tier Tier
19 Incentives to redeem callable securities Incentives to redeem: a taxonomy Economic Explicit Step up Implicit Fix-to-float with implicit step up Reputational Bad signal to the market if not redeemed carefin.u uniboccon ni.eu www. Economic Explicit Implicit Total Reput. Non-call. Total Tier 1 2% 47% 48% 45% 6% 100% Tier 2 25% 20% 45% 12% 44% 100% Total Cap. 10% 19% 29% 15. % A hard rule addressing only explicit step-ups would hardly be effective
20 Agenda The definition of capital: from Basel 2 to Basel 3 New opportunities (?): contingent capital New limits on bank capital securities An impact analysis based on issues performed by large European banks in New deductions from bank common equity Minority interest Deferred tax assets Final remarks
21 Main deductions from common equity under Basel 3 Minority interest of subsidiaries for the amount exceeding the subsidiary s minimum capital; Deferred tax assets (DTA) due to loss carry-forwards due to timing differences between accounting standards and tax rules, for the amount exceeding 10% of common equity Goodwill and other intangibles Unconsolidated investments in financial institutions exceeding 10% of common equity Defined benefit pension fund liabilities
22 Minority interest Any minority interest exceeding a subsidiary s regulatory capital requirement (on a pro quota basis) will have to be deducted from consolidated common equity Concern: while minority interest can support risks in the subsidiary to which it relates, it is not available to support risks in the group as a whole in some circumstances it may represent an interest in a subsidiary with little or no risk Such limited recognition of minority interest creates an incentive towards keeping the subsidiaries common equity close to the regulatory minimum i
23 Impact analysis 10 banking ggroups top 2 groups for France, Germany, Italy, Spain, UK 3options 1.Basel 3 rule (setting the subsidiaries minimum common equity at 7%) 2.Modified rule (setting the subisidiaries eligible capital in line with the group s Core Tier 1 ratio) 3.Basel 3 hard rule (December): any minority interest has to be deducted
24 Impact analysis: results 12% 10% 8% 1,6% Basel 3: CE Tier 1 down by 60 bps (min 10, max 171) Hard rule: bps carefin.u uniboccon ni.eu www. 6% Other 4% 8,8% 8,2% 8,3% 7,7% CE Tier 1 2% 0% Current Option 1 Option 2 Option 3 Modified rule: -50 (min 8, max 92) May differ more as CE Tier 1 ratios go up over the next years
25 Basel 3 groups with high CE ratios would be hit more CE in exc cess of 7% (rho: 74 %) 5% 4% 40% 4,0% 3% 2,1% 2,4% 2,3% 2% 17% 1,7% 16% 1,6% 1,8% 1% 1,0% 0,6% 0% 0,1% 0% 5% 10% 15% 20% 25% 30% carefin.u uniboccon ni.eu www. Minority interest / Common Equity (rho: 95%)
26 Deferred Tax Assets Deferred tax assets (DTAs) have to be deducted from common equity as they may provide no protection in insolvency and can be suddenly written off in a period of stress While DTAs originating from losses must be deducted d d in full, DTAs originating i from timing i differences must be deducted only for the amount exceeding 10% of common equity Avoid creating wrong incentives, e.g. on provisioning Avoid an unlevel playing field due to local tax laws
27 Impact analysis Four options 1. Basel 3 2. Basel 3 with exemption threshold at 20% 3. Basel 3 with exemption threshold at 5% 4. 50% of the DTAs due to losses carried forward deducted from Tier 2 capital (only 50% deducted from common equity) The most likely scenario where DTAs due to losses must be written off is the bank s default, hence gone concern capital (Tier 2) should also be used
28 Impact analysis: results 12% 10% 8% 1,6% Basel 3: CE Tier 1 down by 100 bps (min 1, max 196) carefin.u uniboccon ni.eu www. 6% Other 4% 8,8% 7,8% 8,1% 7,4% 8,1% CE Tier 1 Option 4: CE Tier 1 2% down by 70 bps (min 1, max 138) 0% Current Option 1 Option 2 Option 3 Option 4
29 Impact analysis: minorities and DTAs The two Basel 3 deductions would bring about a 160 bps decrease in the CE Tier 1 ratio (with a 227 bps min/max range) Using Dec 2009 as a starting point, 5 out of 10 groups (including Italy and Spain) would drop below the capital conservation buffer In the case of Italian groups, also because their Core Tier 1 ratios at end 2009 exceed the 7% threshold only slightly
30 Agenda The definition of capital: from Basel 2 to Basel 3 New opportunities (?): contingent capital New limits on bank capital securities An impact analysis based on issues performed by large European banks in New deductions from bank common equity Minority interest Deferred tax assets Final remarks
31 Final remarks Basel 3 seeks a trade-off between stability and growth Once this is set, optimize results and minimize unintended effects Contingent t capital design remains a challenge but banks should be cautiously incentivized to use it the lack of a uniform structure across issues may undermine liquidity of the new market Innovative capital securities: Beware of soft incentives or new rules will be circumvented by evolving market practices. Minority interest and DTAs deductions Still some room for further fine-tuning
32 Bank Capital under Basel 3: Open Issues and Foreseeable Effects Giuliano Iannotta - Andrea Resti carefin@unibocconi.it
33 Back up slide 1 Tier No Size ( mm) Matur. Perpetual Step up Callable Core Tier , % 0% 5% Lower Tier , % 3% 92% Govt. plans (T1) , % 23% 73% Upper Tier , % 14% 81% Lower Tier , % 31% 52% Tier , % 3% 0% Total , % 18% 58% carefin.u uniboccon ni.eu www. - Maturity is the computed excluding perpetuals and at the first call date - Government plans are all T1
Citibank (Hong Kong) Limited
Citibank (Hong Kong) Limited Regulatory Capital Disclosures - Transition Disclosures - Balance Sheet Reconciliation - Main Features of the Capital Instruments Issued 217 Annual Transition Disclosures The
More informationCitibank (Hong Kong) Limited
Citibank (Hong Kong) Limited Regulatory Capital Disclosures - Transition Disclosures - Balance Sheet Reconciliation - Main Features of the Capital Instruments Issued 214 Interim Transition Disclosures
More informationCiticorp International Limited
Citicorp International Limited Regulatory Capital Disclosures - Transition Disclosures - Balance Sheet Reconciliation - Main Features of the Capital Instruments Issued 213 Interim Transition Disclosures
More informationCapital structure and adequacy
Capital structure and adequacy The calculation of the capital adequacy ratios as at 31st December 2014 and 2013 is based on the Banking (Capital) Rules ( BCR ). The capital adequacy ratios represent the
More informationBASEL III Capital Structure Disclosures. PILLAR 3 - (September 2013)
BASEL III Capital Structure Disclosures PILLAR 3 - (September 2013) Balance sheet - Step 1 (Table 2(b)) Balance sheet in Published financial statements Adjustment of banking associates / other entities
More informationTABLE 2: CAPITAL STRUCTURE - December 2013
Balance sheet - Step 1 (Table 2(b)) All figures are in SAR '000 Balance sheet in Published financial statements Adjustment of banking associates / other entities (*) Under regulatory ( C ) ( D ) ( E )
More informationDisclosure of Capital Structure as per Basel framework on Capital Reforms. as at March 31, 2014 PUBLIC
Disclosure of Capital Structure as per Basel framework on Capital Reforms as at Table of Contents Page Statement of Financial Position - Step 1 (Table 2(b)) 3 Statement of Financial Position - Step 2 (Table
More informationTable DF - 11 : Composition of Capital as of September 30, 2016
Table DF 11 : Composition of Capital as of September 30, 2016 Basel III common disclosure template to be used during the transition of regulatory adjustments Amounts Subject to PreBasel III Treatment (Rs.
More informationCapital Structure under Basel III Pillar III for March 31, 2014 SAR 000
Balance sheet - Step 1 (Table 2(b)) Assets Balance sheet in Published financial statements Adjustment of banking associates / other entities (*) Under regulatory scope of consolidation ( C ) ( D ) ( E
More informationAlSalam Bank, Bahrain For the year ended 31 March 2017 COMPOSITION OF CAPITAL DISCLOSURE. Appendix PD-2: Reconciliation requirements
AlSalam Bank, Bahrain For the year ended 31 March 2017 COMPOSITION OF CAPITAL DISCLOSURE Appendix PD-2: Reconciliation requirements Step 1: Disclosure of Balance Sheet under Regulatory scope of Consolidation
More informationComposition of capital disclosure requirements As at 30 September 2017
Composition of capital disclosure requirements As at 30 September 2017 Table of contents Balance sheet under the regulatory scope of consolidation - Step 1 Reconcilation of published financial balance
More informationAPRA Prudential Standard APS 330 Capital and Credit Risk Disclosures 31 March 2018
Community First Credit Union Limited, as an Authorised Deposit-Taking Institution (ADI), is regulated by the Australian Prudential Regulation Authority (APRA). APRA is the prudential regulator of the Australian
More informationSAUDI BRITISH BANK BASEL III - CAPITAL STRUCTURE DISCLOSURE. AS AT 30th September 2015
SAUDI BRITISH BANK BASEL III - CAPITAL STRUCTURE DISCLOSURE AS AT 30th September 2015 PUBLIC Page 1 of 9 Table of Contents Page Statement of Financial Position - Step 1 (Table 2(b)).. 3 Statement of Financial
More informationStandard Chartered Bank (Hong Kong) Limited. Supplementary Notes to Consolidated Financial Statements (unaudited)
Standard Chartered Bank (Hong Kong) Limited Supplementary Notes to Consolidated Financial Statements (unaudited) For period ended 31 December 2017 Standard Chartered Bank (Hong Kong) Limited Table of Contents
More informationBANK OF SHANGHAI (HONG KONG) LIMITED
For the First six months ended 3 June 217 CONTENTS Pages Introduction 1 Capital Adequacy 1 Composition of Capital 3 Leverage Ratio 13 Overview of Risk-weighted Amount 16 Credit Risk 17 Counterparty Credit
More informationPillar III Disclosure
Pillar III Disclosure 30 September 2015 Al Ahli Bank of Kuwait K.S.C.P. Pillar III Disclosure CAPITAL STRUCTURE The capital structure of the Bank Group consists of Common Equity Tier I capital (paid-up
More informationAPRA Prudential Standard APS 330 Capital and Credit Risk Disclosures 30 June 2017
Community First Credit Union Limited, as an Authorised Deposit-Taking Institution (ADI), is regulated by the Australian Prudential Regulation Authority (APRA). APRA is the prudential regulator of the Australian
More informationABC Islamic Bank (E.C.) CBB Composition of Capital Disclosure Requirements As at 30 September 2017
ABC Islamic Bank (E.C.) CBB Composition of Capital Disclosure Requirements As at 30 September 2017 APPENDIX I - REGULATORY CAPITAL DISCLOSURES PD 2 : Reconciliation of Regulatory Capital i) Step 1: Disclosure
More informationThe Impact of Basel III on Capital Instruments
2012 Morrison & Foerster LLP All Rights Reserved mofo.com The Impact of Basel III on Capital Instruments August 16, 2012 Dwight Smith, Morrison & Foerster LLP Introduction On June 12, 2012, the Federal
More information- - 2 Retained earnings. 23,926 23,769 3 Accumulated other comprehensive income (and other reserves)
There are no other legal entities that comprise a consolidated group. CAPITAL BASE The details of the components of the capital base are set out below are for the financial year ended 30th June, these
More information1. Scope of Application
1. Scope of Application The Basel Pillar III disclosures contained herein relate to American Express Banking Corp. India Branch, herein after referred to as the Bank for the period July 1, 2014 September
More information- - 2 Retained earnings. 24,075 23,926 3 Accumulated other comprehensive income (and other reserves)
There are no other legal entities that comprise a consolidated group. The information in this report is prepared quarterly based on the ADI financial records and uses the post 1 Januray 2018 capital disclosure
More informationBASEL III - CAPITAL STRUCTURE 31 March 2017
BASEL III - CAPITAL STRUCTURE 31 March 2017 Balance sheet - Step 1 (Table 2(b)) All figures are in SAR'000 Balance sheet in Published financial statements Adjustment of banking associates / other entities
More informationBASEL 3 COMMON DISCLOSURE TEMPLATES. as at 31 December 2017
BASEL 3 COMMON DISCLOSURE TEMPLATES as at 31 December 2017 introduction In accordance with Section 6(6) of the s Act and the n Reserve amended Regulations relating to banks, this report includes common
More informationPublic Finance Limited
Semi-annual Disclosures For the period ended 30 June 2018 (Solo Basis and Unaudited) Table of contents Template KM1: Key prudential ratios.... 1 Template OV1: Overview of RWA... 3 Template CC1: Composition
More informationRegulatory Capital Disclosures 30 September 2017
30 September 2017 PD 2 : Reconciliation of regulatory capital i) Step 1: Disclosure of Balance Sheet under Regulatory scope of Consolidation Balance sheet as in published financial statements Consolidated
More informationWide Bay Australia Ltd Basel III Pillar 3 Disclosures
APRA standard APS330 "Capital Adequacy: Public Disclosure of Prudential Information" requires public disclosure of the composition of regulatory capital, reconciliation between regulatory capital and audited
More informationas at 30 June 2016 Basel 3 common disclosure templates
as at 30 June 2016 Basel 3 common disclosure templates INTRODUCTION In accordance with Section 6(6) of the s Act and Basel III, the n Reserve issued directives impacting the group s Pillar 3 disclosures.
More informationDeferred tax assets that rely on future profitability excluding those arising from temporary differences - -
The following information is disclosed in accordance with the CBRC Notice on Issuing Regulatory Documents on Capital Regulation for Commercial Banks Appendix 2 Notice on Enhancing Disclosure Requirements
More informationComposition of Capital Disclosure Requirements As at 30 September 2018
Composition of Capital Disclosure Requirements As at 30 September 2018 Table of contents Page No. Balance sheet under the regulatory scope of consolidation - Step 1 1 Reconcilation of published financial
More informationBalance sheet - Step 1 (Table 2(b))
Balance sheet - Step 1 (Table 2(b)) Assets Balance sheet in Published financial statements Adjustment of banking associates / other entities (*) Under regulatory scope of consolidation ( C ) ( D ) ( E
More information2 Retained earnings 13,598 b+c+d+e 3 Accumulated other comprehensive income (and other reserves) -
DF 11 Composition of Capital as at March 31, 2015 Common Equity Tier 1 capital: instruments and reserves 1 Directly issued qualifying common share capital plus related stock surplus (share premium) Amounts
More informationTable of contents. Reconcilation of published financial balance sheet to regulatory reporting - Step 2 2
Composition of capital disclosure requirements As at 31 March 2018 Table of contents Balance sheet under the regulatory scope of consolidation Step 1 Page no 1 Reconcilation of published financial balance
More informationCoCos: A Promising Idea Poorly Executed
CoCos: A Promising Idea Poorly Executed Richard J. Herring herring@wharton.upenn.edu Wharton School 19 th Annual International Banking Conference Federal Reserve Bank of Chicago. November 2, 2016 1 Background
More informationBasel III Common Disclosure Template As of March 31, 2018
Basel III Common Disclosure Template Componen Amount in million Rupiah Individual Reference from Statements of Financial Position Common Equity Tier 1 capital : instrumens and reserves 1. Directly issued
More informationBasel III Common Disclosure Template As of September 30, 2017
Basel III Common Disclosure Template Componen Amount in million Rupiah Individual Reference from Statements of Financial Position Common Equity Tier 1 capital : instrumens and reserves 1. Directly issued
More informationCAPITAL ADEQUACY AND RISK DISCLOSURES COMMON DISCLOSURE TEMPLATE. APS 330 Public Disclosure As at 30 September 2017
CAPITAL ADEQUACY AND RISK DISCLOSURES Police Financial Services Limited (PFSL) is an Authorised Deposit Taking Institution ("ADI") subject to Regulation by the Australian Prudential Regulation Authority
More informationTABLE 2: CAPITAL STRUCTURE - December 31, 2015
Frequency : Quarterly Location : Quarterly Financial Statement TABLE 2: CAPITAL STRUCTURE - December 31, 2015 Balance sheet - Step 1 (Table 2(b)) All figures are in SAR '000 Assets Balance sheet in Published
More informationBAHRAIN DEVELOPMENT BANK B.S.C. (c) Composition of capital disclosure requirements For the six months period ended 30 June 2018
Composition of capital disclosure requirements Balance sheet under the regulatory scope of consolidation Step 1 Page no 1 Reconcilation of published financial balance sheet to regulatory reporting Step
More informationWHY COCOS ARE LESS PROBLEMATIC THAN BAILING-IN OF LIABILITIES
WHY COCOS ARE LESS PROBLEMATIC THAN BAILING-IN OF LIABILITIES THE FOURTH SYMPOSIUM ON ENDING TOO BIG TO FAIL, FEDERAL RESERVE BANK OF MINNEAPOLIS SEPTEMBER 26 PROFESSOR EMILIOS AVGOULEAS CHAIR IN INTERNATIONAL
More informationALLIED BANKING CORPORATION (HONG KONG) LIMITED
ALLIED BANKING CORPORATION (HONG KONG) LIMITED Pillar 3 Regulatory Disclosures For the year ended 3 June 218 (Unaudited) Table of contents Template KM1: Key prudential ratios 1 Template OV1: Overview of
More informationTABLE 2: CAPITAL STRUCTURE - March 31, 2016
c Frequency : Quarterly Location : Quarterly Financial Statement Balance sheet - Step 1 (Table 2(b)) All figures are in SAR '000 Assets Balance sheet in Published financial statements Adjustment of banking
More informationBasel III Common Disclosure Template As of March 31, 2017
Basel III Common Disclosure Template Componen Amount in million Rupiah Individual Reference from Statements of Financial Position Common Equity Tier 1 capital : instrumens and reserves 1. Directly issued
More informationBasel III Common Disclosure Template As of March 31, 2016
Basel III Common Disclosure Template Componen Amount in million Rupiah Bank Reference from Statements of Financial Position Common Equity Tier 1 capital : instrumens and reserves 1. Directly issued qualifying
More informationComposition of capital disclosure requirements As at 30 June 2018
Composition of capital disclosure requirements As at 30 June 2018 CONTENTS PAGE Overview Step 1: Disclose the reported balance sheet under the regulatory scope of consolidation 3 Step 2: Expand the lines
More informationSGE Credit Union Limited. Prudential Disclosure Document ABN As at 30 September 2013
SGE Credit Union Limited Prudential Disclosure Document ABN 72 087 650 637 As at 30 September 2013 Basis of Preparation In accordance with Australian Prudential Standard APS 330, locally incorporated ADI
More informationof which : Shortfall in the equity capital of majority owned financial entities which have not been consolidated
Basel III common disclosure March 31, 2018 Pillar 3 Table DF11 Composition of Capital Common Equity Tier 1 capital : instruments and reserves 1 Directly issued qualifying common share capital plus related
More informationInformation on Capital Structure, Liquidity Coverage and Leverage Ratios as per Basel-III Framework as at June 30, 2016
Information on Capital Structure, Liquidity Coverage and Leverage Ratios as per Basel-III Framework as at June 30, 2016 Table of Contents Capital Structure Statement of Financial Position - Step 1 ( Table
More informationAll regulatory capital elements are consistent with the audited financial statements as at the last reporting date.
The information in this report is prepared ly based on the ADI financial records and uses the post 1 January 2018 capital disclosure template to fully comply with Basel III regulatory adjustments as implemented
More informationPillar III Disclosures 30 th June 2018
Capital Structure as at 30th June 2018 KD 000 Paidup share capital/common stock 161,917 Reserves 393,336 Less: Treasury Shares (5,053) Other Intangibles (except Mortgage Servicing Rights) (13,137) Defined
More informationRegulatory Capital Disclosures. 31 March 2016
Regulatory Capital Disclosures 31 March 2016 PD 2 : Reconciliation Of Regulatory Capital i) Step 1: Disclosure of Balance Sheet under Regulatory scope of Consolidation Balance sheet as in published financial
More informationRURAL BANK LIMITED APS 330: Public Disclosure Millions to one decimal place
RURAL BANK LIMITED APS 330: Public Disclosure Millions to one decimal place Rural Bank is applying the Basel III regulatory adjustments in full as implemented by APRA. The capital disclosures detailed
More informationAPS Public Disclosure of Prudential Information as at 30th June 2017
APS 330 Public of Prudential Information as at 30th June 2017 Capital Structure as at 30th June 2017 The capital disclosures detailed in the Template represents the post 1 January 2018 Basel III common
More informationTABLE 2: CAPITAL STRUCTURE
BASEL III - CAPITAL STRUCTURE 30 June 2017 Balance sheet - Step 1 (Table 2(b)) All figures are in SAR'000 Balance sheet in Published financial statements Adjustment of banking associates / other entities
More informationA$m Source Directly issued qualifying ordinary shares (and equivalent for mutually-owned entities) capital 1
RURAL BANK LIMITED APS 330: Public Disclosure Millions to one decimal place Rural Bank is applying the Basel III regulatory adjustments in full as implemented by APRA. The capital disclosures detailed
More informationAPS 330 PRUDENTIAL DISCLOSURE CAPITAL AND CREDIT RISK SEPTEMBER 2017
This disclosure on the capital and credit risk refers to the Sydney Credit Union Limited (ABN 93 087 650 726). Sydney Credit Union Limited is using the post 1 January 2018 common disclosure template because
More informationSamba Financial Group Basel III - Pillar 3 Disclosure Report. September 2017 PUBLIC
Basel III - Pillar 3 Disclosure Report September 2017 Basel III - Pillar 3 Disclosure Report as at September 30, 2017 Page 1 of 12 Table of contents Capital Structure Page Statement of financial position
More informationFinancial Crises and Regulatory Responses. Bank Regulation: I) The Liability side of the Balance Sheet II) The Asset side of the Balance Sheet
Financial Crises and Regulatory Responses Bank Regulation: I) The Liability side of the Balance Sheet II) The Asset side of the Balance Sheet Higher Equity Capital Requirements Admati, DeMarzo, Hellwig
More informationContingent Capital : The Case for COERCS
George Pennacchi (University of Illinois) Theo Vermaelen (INSEAD) Christian Wolff (University of Luxembourg) 10 November 2010 Contingent Capital : The Case for COERCS How to avoid the next financial crisis?
More informationMain Features of Regulatory Capital Instruments: Main Features of Regulatory Capital Instruments (Equity Shares & Bond SERIES I, II, III & IV)
Main Features of Regulatory Capital s: Main Features of Regulatory Capital s (Equity Shares & Bond SERIES I, II, III & IV) 1. Issuer Unique identifier (e.g. 2. CUSIP, ISIN or Bloomberg INE614B01018 INE614B09011
More informationBASEL III PILLAR 3 DISCLOSURES
BASEL III PILLAR 3 DISCLOSURES AUSWIDE BANK LTD APRA standard APS330 "Capital Adequacy: Public Disclosure of Prudential Information" requires public disclosure of the capital structure, capital adequacy
More informationComposition of Capital
Composition of Capital Composition of Capital In millions of RMB, except for percentages Amount Core tier 1 : 1 Paid-in 81,31 2 Retained earnings 232,481 2a Surplus reserves 25,159 2b General reserve 11,11
More informationCapital Plan and Business Operating Plan. Enterprise-wide Stress Testing ICAAP
Corporate Environmental Affairs (CEA) sets enterprise-wide policy requirements for the identification, assessment, control, monitoring and reporting of environmental risk. Oversight is provided by GE and
More informationAUSWIDE BANK LTD BASEL III PILLAR 3 DISCLOSURES 30 June 2018
APRA standard APS330 "Capital Adequacy: Public Disclosure of Prudential Information" requires public disclosure of the capital structure, capital adequacy ratios and credit risk exposures for the Auswide
More informationCapital Structure under Basel III Pillar III for December 31, 2014 SAR 000
Balance sheet - Step 1 (Table 2(b)) Assets Balance sheet in Published financial statements Adjustment of banking associates / other entities (*) Under regulatory scope of consolidation ( C ) ( D ) ( E
More informationGFH Financial Group BSC Regulatory Capital Reconciliation and Disclosures as at 31 December 2018
GFH Financial Group BSC Regulatory Capital Reconciliation and Disclosures as at 31 December 2018 Statement of financial position under the scope of consolidation and reconciliation of published financial
More informationBasel III - Capital Structure. Quarterly Disclosures
Basel III Capital Structure Quarterly Disclosures As at 31st December 2017 BASEL III PILLARIII Quarterly disclosures LIST OF RETURNS 31 December 2017 TABLE Capital Structure Balance Sheet Step 1 Balance
More informationBASEL III. CAPITAL STRUCTURE QUARTERLY DISCLOSURES As at 31-March Page 1 of 8
BASEL III CAPITAL STRUCTURE QUARTERLY DISCLOSURES As at 31March2018 Page 1 of 8 BASEL III PILLARIII Quarterly disclosures LIST OF RETURNS 31 March 2018 TABLE Capital Structure Balance Sheet Step 1 Balance
More informationBASEL Pillar 3. Bank of China (Australia) Limited. Bank of China (Australia) Limited is using the post 1
Bank of China (Australia) Limited is using the post 1 BASEL Pillar 3 Public Disclosure of Prudential Information under APS 330 As at 31 Dec 2014 is using the post 1 January 2018 capital disclosure template
More informationSamba Financial Group Basel III - Pillar 3 Disclosure Report. March 2018 PUBLIC
Basel III - Pillar 3 Disclosure Report March 2018 Basel III - Pillar 3 Disclosure Report as at March 31, 2018 Page 1 of 11 Table of contents Capital structure Statement of financial position - Step 1 (
More informationBasel III - Capital Structure. Quarterly Disclosures
Basel III Capital Structure Quarterly Disclosures As at 30th September 2017 BASEL III PILLARIII Quarterly disclosures LIST OF RETURNS 30 September 2017 TABLE Capital Structure Balance Sheet Step 1 Balance
More informationCapital ratios National Minima (if different from Basel 3) Amounts below the threshold for deductions (before risk weighting)
Base 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69
More information1. Scope of Application
1. Scope of Application The Basel Pillar III disclosures contained herein relate to American Express Banking Corp. India Branch, herein after referred to as the Bank for the quarter ended 31st. American
More informationAPS 330 Prudential Disclosure
Tyro Payments Limited APS 330 Prudential Disclosure Tyro Payments Limited ABN 49 103 575 042 Table of Contents 1 Table 1: Capital Disclosure and Regulatory Capital Reconciliations 2 Table 2: Main Features
More informationTABLE 2: CAPITAL STRUCTURE - September 30, 2018
TABLE 2: CAPITAL STRUCTURE - September 30, 2018 Balance sheet - Step 1 (Table 2(b)) All figures are in SAR '000 Assets Balance sheet in Published financial statements Adjustment of banking associates /
More informationRegulatory Capital: an overview and an update
Regulatory Capital: an overview and an update NY2 689993 Tom Humphreys Oliver Ireland Anna Pinedo July 7, 2011 2010 Morrison & Foerster LLP All Rights Reserved mofo.com Overview Evolution of new capital
More informationPrudential Disclosures As at 30 Jun 18
Capital Structure Capital Adequacy These figures are current as at 30 June 2018 These figures are current as at the end of the 30 June 2018 Type Amount Amount Mar18 Tier 1 Capital Capital requirements
More informationRegulatory Disclosures 30 June 2017
Regulatory Disclosures 30 June 2017 CONTENTS PAGE Key ratio - Capital ratio 1 - Leverage ratio 1 Overview of RWA 2 Credit risk for non-securitization exposures 3 Counterparty credit risk 12 Securitization
More informationVAN DE PUT & CO BALANCE SHEET BALANCE SHEET ANNEX 6 ANNEX 6 NOTE Private Bankers in EUR thousands CODES in EUR thousands ROW
ANNEX I Balance sheet reconciliation methodology Disclosure according to Article 2 in Commission implementing regulation (EU) No 1423/2013 '' inserted if not applicable 31/12/2017 VAN DE PUT & CO BALANCE
More informationHybrid Tier Is Evolution: From CRD I to CRD IV / CRR. Federico Ravera Head of Strategic Portfolio, Group Finance
Hybrid Tier Is Evolution: From CRD I to CRD IV / CRR Federico Ravera Head of Strategic Portfolio, Group Finance Milan, ottobre 15, 2013 Hybrid Tier 1s evolution: from CRDI to Basel III / CRDIV Tier Is
More informationBASEL III Quantitative Disclosures
BASEL III Quantitative Disclosures PILLAR 3 - TABLES (December 2013) Table No. Description Table 1, (e) SCOPE OF APPLICATION (Capital Deficiencies) Table 2, (b) CAPITAL STRUCTURE (Balance sheet - Step
More informationCapital Disclosures Template
As at December 31, 215 Cross reference to Consolidated Balance Sheet 1 Directly issued qualifying CET1 capital instruments plus any related share premium 28,827,843 6 2 Retained earnings 13,411,223 7 3
More informationAdditional Tier 1 capital (Basel III-compliant)
Additional Tier 1 capital (Basel III-compliant) Issuer UBS Group AG, or other employing entities of the UBS group ISIN - Issue Date 31.12.16 1 Currency Nominal (million) CHF 2 Coupon Rate 2.55% / 5.95%
More informationAhli United Bank B.S.C. Pillar III Disclosures - Basel III. 30 June 2018
] Six month ended (Unaudited) Table 1 Capital structure. 2 Table 2 Gross credit risk exposures.. 3 Table 3 Risk weighted exposures. 4 Table 4 Geographic distribution of gross credit exposures 5 Table 5
More informationSamba Financial Group Basel III - Pillar 3 Disclosure Report. June 2018 PUBLIC
Basel III - Pillar 3 Disclosure Report June 2018 Basel III - Pillar 3 Disclosure Report as at June 30, 2018 Page 1 of 19 Table of Contents Capital Structure Page Statement of financial position - Step
More informationAPRA Basel III Pillar 3 Disclosures
APRA Basel III Pillar 3 Disclosures Quarter ended 31 March 2018 25 May 2018 This report has been prepared by P&N Bank to meet its disclosure requirements under the Australian Prudential Regulation Authority
More informationRS Official Gazette, No 82/2017
RS Official Gazette, No 82/2017 Based on Article 15, paragraph 1 of the Law on the National Bank of Serbia (RS Official Gazette, Nos 72/2003, 55/2004, 85/2005 other law, 44/2010, 76/2012, 106/2012, 14/2015
More informationPillar 3, Liquidity Coverage Ratio ("LCR") and Net Stable Funding Ratio ("NSFR") Disclosures
Pillar 3, Liquidity Coverage Ratio ("LCR") and Net Stable Funding Ratio ("NSFR") Disclosures Second Quarter 2018 DBS Group Holdings Ltd Incorporated in the Republic of Singapore Company Registration Number:
More informationThe Standard Bank of South Africa Limited. Fact Sheet. September 2012
The Standard Bank of South Africa Limited Fact Sheet September 2012 Contact details Libby King SBSA Chief Financial Officer Arno Daehnke Head: Treasury and Capital Management Tel: +27 11 636 1167 Tel:
More informationGFH Financial Group BSC Regulatory Capital Reconciliation Disclosures as of 31 December 2017
GFH Financial Group BSC Regulatory Capital Reconciliation Disclosures as of 31 December 2017 Statement of financial position under the scope of consolidation and reconciliation of published financial statements
More informationProCredit Bank (Bulgaria) EAD 1303, Sofia, 26, Todor Aleksandrov Blvd.
ProCredit Bank (Bulgaria) EAD 1303, Sofia, 26, Todor Aleksandrov Blvd. Disclosure Report 2016 in accordance with Article 13 of EU REGULATION No. 575/2013 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of
More informationBasel Committee on Banking Supervision. Basel III definition of capital - Frequently asked questions
Basel Committee on Banking Supervision Basel III definition of capital - Frequently asked questions December 2011 (update of FAQs published in October 2011) Copies of publications are available from:
More informationInternational Investment Bank B.S.C. (c) Regulatory Capital Disclosures As at 31 March 2018
International Investment Bank B.S.C. (c) Regulatory Capital Disclosures As at 31 March 2018 International Investment Bank B.S.C. (c) Regulatory Capital Disclosures As at 31 March 2018 1. Introduction In
More informationBASEL Pillar 3. Public Disclosure of Prudential Information under APS 330 As at 31 Dec Bank of China (Australia) Limited
Public Disclosure of Prudential Information under APS 330 As at 31 Dec 2013 Public Disclosure of Prudential Information Part 1 is using the post 1 January 2018 capital disclosure template because it is
More informationCRD IV. Global Banking & Capital Markets. Tax treatment of regulatory capital instruments
May 2014 Global Banking & Capital Markets CRD IV Tax treatment of regulatory capital instruments This briefing is intended to provide an overview of the tax treatment of regulatory capital instruments
More informationBPI INTERNATIONAL FINANCE LIMITED. Capital Disclosure Template. Crossreferenced
Capital Disclosure Template CET1 : instruments and reserves 1 Directly issued qualifying CET1 instruments plus any related share premium 75,000 (2) 2 Retained earnings 92,030 (3) 3 Disclosed reserves (54)
More informationONLY THE HEBREW VERSION IS BINDING
Measurement & Capital Adequacy - Regulatory Capital page 202-1 Regulatory Capital Table of contents Topic Page The Structure of Regulatory Capital 202-2 Limits on the Structure of Capital 202-2 Definitions
More informationThe Trouble with Bail-in : Pillar 2
The Trouble with Bail-in : Pillar 2 Mark J. Flannery Prepared for a conference on Achieving Financial Stability: Challenges to Prudential Regulation Federal Reserve Bank of Chicago November 4, 2016 1 The
More informationNational Bank of Kuwait Group. Capital and Leverage Disclosures (Basel III)
National Bank of Kuwait Group Capital and Leverage Disclosures (Basel III) June 2017 Risk Management Disclosures Page I. Capital Composition 1. Composition of Regulatory Capital 1 2. Reconciliation requirements
More informationBasel III Pillar 3 Disclosures: Prudential Standard APS 330
7 September 2018 Basel III Pillar 3 Disclosures: Prudential Standard APS 330 is an Authorised Deposit-taking Institution (ADI) subject to regulation by the Australian Prudential Regulation Authority (APRA).
More information