EBA欧洲银行-GR033_11页_977kb

报告摘要

Summary of the 2011 EBA EU-wide Stress Test Results for Piraeus Bank

Core Tier 1 Capital Ratio

Actual results at 31 December 2010:
- Core Tier 1 capital ratio: 8.0%
- Core Tier 1 capital: 3,039 million EUR
- Risk weighted assets (RWA): 37,987 million EUR
Outcomes of the adverse scenario at 31 December 2012, excluding mitigating actions:
- Core Tier 1 capital ratio: 5.3%
- Core Tier 1 capital: 1,306 million EUR
- RWA: 39,169 million EUR
Supervisory recognised capital ratio after all mitigating actions as of 31 December 2012:
- 6.3%

Mitigating Measures

A) Use of Provisions and Other Reserves

Capital ratio effect: 60 percentage points
RWA effect: -1,558 million EUR

B) Divestments and Management Actions (by 30 April 2011)

RWA effect: -1,558 million EUR
Capital ratio effect: 60 percentage points

C) Other Disinvestments and Restructuring Measures

Includes future mandatory restructuring not yet approved with the EU Commission.
RWA effect: -1,558 million EUR
Capital ratio effect: 60 percentage points

D) Future Planned Issuances of Common Equity Instruments (Private Issuances)

Amount: 250 million EUR
Capital ratio effect: 250 percentage points

E) Future Planned Government Subscriptions of Capital Instruments

Capital ratio effect: Not specified

F) Other Back-stop Measures Recognised by National Supervisory Authorities

RWA effect: Not specified
Capital ratio effect: Not specified

Capital Adequacy and Profit/Loss Analysis

Capital Adequacy (Baseline and Adverse Scenarios)

Item	2010	2011 (Baseline)	2012 (Baseline)	2011 (Adverse)	2012 (Adverse)
Risk Weighted Assets (RWA)	37,987	38,346	38,642	37,785	39,169
Core Tier 1 Capital	3,039	2,917	2,768	2,205	1,306
Core Tier 1 Capital Ratio (%)	8.0%	7.6%	7.2%	5.8%	3.3%

Profit and Loss (Baseline and Adverse Scenarios)

Item	2010	2011 (Baseline)	2012 (Baseline)	2011 (Adverse)	2012 (Adverse)
Operating profit before impairments	618	638	616	689	659
Impairment losses on financial and non-financial assets in the banking book	-601	-821	-807	-1,772	-1,800
Operating profit after impairments and other losses from the stress	13	-186	-194	-1,086	-1,144
Net profit after tax	-19	-148	-154	-859	-905

Additional Information

Deferred Tax Assets:
- 2010: 417 million EUR
- 2011 (Baseline): 455 million EUR
- 2012 (Baseline): 495 million EUR
- 2011 (Adverse): 643 million EUR
- 2012 (Adverse): 655 million EUR
Stock of Provisions:
- 2010: 1,433 million EUR
- 2011 (Baseline): 2,250 million EUR
- 2012 (Baseline): 3,052 million EUR
- 2011 (Adverse): 3,169 million EUR
- 2012 (Adverse): 4,933 million EUR
Coverage Ratios:
- Corporate (excluding Commercial real estate):
  - 2010: 54.6%
  - 2011 (Baseline): 49.1%
  - 2012 (Baseline): 46.7%
  - 2011 (Adverse): 48.7%
  - 2012 (Adverse): 46.1%
- Retail (excluding Commercial real estate):
  - 2010: 48.9%
  - 2011 (Baseline): 47.7%
  - 2012 (Baseline): 46.8%
  - 2011 (Adverse): 48.3%
  - 2012 (Adverse): 47.2%
- Commercial real estate:
  - 2010: 17.3%
  - 2011 (Baseline): 23.1%
  - 2012 (Baseline): 22.7%
  - 2011 (Adverse): 25.5%
  - 2012 (Adverse): 28.2%
Loss Rates:
- Corporate (excluding Commercial real estate):
  - 2010: 1.4%
  - 2011 (Baseline): 2.4%
  - 2012 (Baseline): 2.4%
  - 2011 (Adverse): 2.7%
  - 2012 (Adverse): 3.4%
- Retail (excluding Commercial real estate):
  - 2010: 2.4%
  - 2011 (Baseline): 1.9%
  - 2012 (Baseline): 1.9%
  - 2011 (Adverse): 2.2%
  - 2012 (Adverse): 2.7%
- Commercial real estate:
  - 2010: 0.4%
  - 2011 (Baseline): 2.0%
  - 2012 (Baseline): 1.7%
  - 2011 (Adverse): 2.5%
  - 2012 (Adverse): 3.5%
Funding cost (bps):
- 2010: 206
- 2011 (Adverse): 276
- 2012 (Adverse): 336

Capital Composition at 31 December 2010

Item	Amount (million EUR)	% RWA
A) Common equity before deductions	2,687	7.1%
Of which: eligible capital and reserves	3,206	8.4%
Of which: intangibles assets (including goodwill)	-384	-1.0%
Of which: adjustment to valuation differences in other AFS assets	206	0.5%
B) Deductions from common equity	-18	0.0%
Of which: deductions of participations and subordinated claims	-18	0.0%
Of which: securitisation exposures not included in RWA	0	0.0%
C) Common equity (A+B)	2,669	7.0%
D) Other existing government support measures	370	1.0%
E) Core Tier 1 including existing government support measures (C+D)	3,039	8.0%
Difference from benchmark capital threshold (CT1 5%)	1,140	3.0%
F) Hybrid instruments not subscribed by government	159	0.4%
Tier 1 Capital (E+F)	3,199	8.4%
Tier 2 Capital	329	0.9%
Tier 3 Capital	0	0.0%
Total Capital	3,528	9.3%

Notes and Definitions

The stress test was conducted using the EBA common methodology, which assumes a static balance sheet and incorporates regulatory transitional floors where binding.
Core Tier 1 capital is defined according to the EBA methodology, which may differ from national definitions.
The results should not be interpreted as forecasts or directly compared to other published information.
Mitigating measures include capital raisings, government support, and restructuring actions, which are incorporated in the capital ratio calculations.
Coverage ratio is calculated as the stock of provisions on defaulted assets / stock of defaulted assets in EAD.
Loss rate is defined as the total impairment flow / total EAD for the specific portfolio.
All elements are reported net of tax effects.