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2014 EU-wide Stress Test Summary for DE - HASPA Finanzholding

Core Content Overview

The document presents the results of the 2014 EU-wide Stress Test for DE - HASPA Finanzholding, a German banking institution. It provides a detailed analysis of the bank's financial performance and capital adequacy under two scenarios: the Baseline Scenario and the Adverse Scenario, as of 31 December 2016. The data includes actual figures from 31 December 2013, and the impact of the stress test over a three-year period (2014-2016).

Key Figures

Actual Figures (as of 31 December 2013)

• Operating profit before impairments: 199 (min EUR)
• Impairment losses on financial and non-financial assets in the banking book: 69 (min EUR)
• Common Equity Tier 1 (CET1) capital: 3,930 (min EUR)
• Total Risk Exposure: 31,550 (min EUR)
• CET1 ratio: 12.5%

Adverse Scenario (as of 31 December 2016)

• 3-year cumulative operating profit before impairments: 507 (min EUR)
• 3-year cumulative impairment losses on financial and non-financial assets in the banking book: 807 (min EUR)
• 3-year cumulative losses from the stress in the trading book: 13 (min EUR)
• Valuation losses due to sovereign shock after tax and prudential filters: 0 (min EUR)
• CET1 capital: 3,577 (min EUR)
• Total Risk Exposure: 33,317 (min EUR)
• CET1 ratio: 10.7%

Baseline Scenario (as of 31 December 2016)

• 3-year cumulative operating profit before impairments: 590 (min EUR)
• 3-year cumulative impairment losses on financial and non-financial assets in the banking book: 402 (min EUR)
• 3-year cumulative losses from the stress in the trading book: 1 (min EUR)
• CET1 capital: 4,048 (min EUR)
• Total Risk Exposure: 32,296 (min EUR)
• CET1 ratio: 12.5%

Memorandum Items

• Common EU-wide CET1 Threshold (5.5%): 1,832 (min EUR)
• Total amount of instruments with mandatory conversion into ordinary shares (2014–2016): 0 (min EUR)
• Total Additional Tier 1 and Tier 2 instruments eligible for regulatory capital (CRR provisions): 0 (min EUR)
• CET1 Threshold (8.0%): 2,584 (min EUR)

Risk Exposure Breakdown (Baseline Scenario)

Risk Exposure Breakdown (Adverse Scenario)

Summary of Main Points

• CET1 Capital and Ratio: The CET1 capital decreased slightly from 3,930 (12.5%) in 2013 to 3,577 (10.7%) in the adverse scenario by 2016, while it remained at 4,048 (12.5%) in the baseline scenario.
• Operating Profit: The cumulative operating profit before impairments increased in both scenarios, with 507 (adverse) and 590 (baseline) over the three-year period.
• Impairment Losses: Impairment losses were higher in the adverse scenario (807) than in the baseline (402), reflecting the impact of the stress test.
• Trading Book Losses: The adverse scenario recorded a cumulative loss of 13 in the trading book, while the baseline scenario showed a smaller loss of 1.
• Valuation Losses: No valuation losses due to sovereign shock were recorded in the adverse scenario.
• Risk Exposure: The total risk exposure increased in both scenarios, from 31,550 (2013) to 33,317 (adverse) and 32,296 (baseline) by 2016.
• LTV and Provisions: The loan-to-value (LTV) ratios and provisions varied across different categories, with higher impairment rates in the adverse scenario.
• Eligible Instruments: No instruments were eligible for conversion into CET1 or written down in the adverse scenario.

Conclusion

The 2014 EU-wide Stress Test highlights the resilience of DE - HASPA Finanzholding under both baseline and adverse scenarios. While the CET1 ratio dropped in the adverse scenario, the bank still met the minimum threshold of 5.5% at the end of 2016. The test also revealed the impact of stress on impairment losses and trading book losses, with the adverse scenario showing a more significant effect. The bank's capital structure and risk exposure remained within acceptable limits, indicating a robust financial position.