SNS REAAL Groep N.V.
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Publicatie datum
15 jul 2011 - 17:53
Statutaire naam
SNS REAAL Groep N.V.
Titel
PERSBERICHT/PRESS RELEASE SNS Bank meets the capital benchmark set out for the EU-wide stress test
Bericht
SNS Bank N.V. (SNS Bank), the banking activities of SNS REAAL, was subject to the 2011 EU-wide stress test conducted by the European Banking Authority (EBA), in cooperation with the Dutch Central Bank (DNB), the European Central Bank (ECB), the European Commission (EC) and the European Systemic Risk Board (ESRB).
SNS Bank notes the announcements made today by the EBA and the DNB on the EU-wide stress test and fully acknowledges the outcomes of this exercise.
The EU-wide stress test, carried out across 90 banks, including four banks from the Netherlands, covering over 65% of the EU banking system total assets, seeks to assess the resilience of European banks to severe shocks and their specific solvency to hypothetical stress events under certain restrictive conditions.
The scenarios, methodology and key assumptions of the EU-wide stress test were established to assess banks’ capital adequacy against a 5% Core Tier 1 capital benchmark and are intended to restore confidence in the resilience of the banks tested. The predefined baseline and adverse stress test scenarios were set by the ECB and cover a two-year time horizon (2011-2012). The outcomes of the stress test reflect the predefined baseline and adverse stress test scenario and are not forecasts of SNS Bank financial performance including its capital ratios.
The stress test has been carried out using a static balance sheet assumption as at December 2010, in the case of SNS Bank taking into account the repositioning and run-off of the Property Finance portfolio announced in November 2010.
As a result of the assumed baseline scenario, the estimated consolidated Core Tier 1 capital ratio of SNS Bank would change to 10.6% in 2012 compared to 8.4% as of end of 2010. As a result of the assumed shock under the adverse scenario, the estimated consolidated Core Tier 1 capital ratio would change to 7.0% in 2012 compared to 8.4% as of end of 2010. Especially in the adverse scenario, the prescribed com
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