November 17, 2017

EBA published its sixth updated list of capital instruments that the competent authorities across the EU have classified as common equity tier 1 (CET1). Two new CET1 instruments that were issued in two member states have been assessed and evaluated as being compliant with the Capital Requirements Regulation (CRR).

The fifth update was issued on May 23, 2017. The next update of the list will include, in particular, modifications related to the grandfathering of State Aid instruments under Article 483 of the CRR, which will elapse at the end of 2017. The list will be maintained and updated on a regular basis. The list has to be read in conjunction with the CET1 report, published last May, which provides some background on the monitoring work done to establish the CET1 list. The report also provides external stakeholders with further guidance on the content and objectives of the CET1 list, clarity on the consequences of the inclusion (or exclusion) of an instrument in (or from) the list, and feedback on the outcome of EBA monitoring work on CET1 issuances across the EU.

 

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Keywords: Europe, EU, Banking, Basel III, CRR, CET1, Capital Requirements, EBA

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