REG - Banco Bil.Viz.Argent - MREL requirement

Banco Bilbao Vizcaya Argentaria SAAnnouncement

27/03/2024 16:45

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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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