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Sydbank — Capital/Financing Update 2011
Dec 8, 2011
3387_iss_2011-12-08_5176e468-a158-435f-8b6b-a3af08a2a10c.pdf
Capital/Financing Update
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Sydbank
NASDAQ OMX Copenhagen London Stock Exchange Bourse de Luxembourg Other stakeholders
Company Announcement No 18/11
Peberlyk 4 · PO Box 1038 DK-6200 Aabenraa
Tel +45 74 37 37 37 Fax +45 74 37 35 36
sydbank.dk SWIFT SYBKDK22
Sydbank A/S CVR No DK 12626509, Aabenraa
8 December 2011
Dear Sirs
EU-wide capital test
Sydbank and other major banks from EU countries have participated in a capital test on 30 September 2011 conducted at the request of the European Banking Authority (EBA). The purpose of the capital test was to establish the European bank sector's potential need for recapitalisation.
In order to pass the test banks must post a Core Tier 1 capital of a minimum of 9%, which has been fixed by the EBA. Sydbank's Core Tier 1 capital ratio measured in the test constitutes 12.8%. Sydbank is therefore 3.8 percentage points above the EBA's minimum requirement and does not require further capital to meet the fixed minimum requirement.
Sydbank has a very solid capital structure and the bank has no exposure to government bonds with bad credit ratings.
Yours sincerely
Karen Frøsig CEO
Preben L. Hansen Deputy Group Chief Executive
Composition of capital as of 30 September 2011 (CRD3 rules)
Sydbank
DK010
Name of the bank
Total of items as defined by Article 57 (i), (m), (n) (o) and (p) of Directive 2006/48/EC
and deducted from original own funds (COREP lines from 1.3.1 to 1.3.5 included in line COREP line 1.3.7 included in line 1.3.T1* (50% securitisation exposures in the banking
and trading book subject to 1250% risk weight; Art. 57 (r) of Directive 2006/48/EC) Net amount included in T1 own funds (COREP line 1.1.4.1a + COREP lines from
1.1.2.2***01 to 1.1.2.2***05 + COREP line 1.1.5.2a (negative amount)) not subscribed Please report the prudential filter as a positive number if the AFS revaluation reserve Common equity + Existing government support measures included in T1 other than provide a positive number if the book value is larger than the fair value of sovereign
assets. Please provide a negative number if the book value is smaller than the fair COREP CA 1.1 - hybrid instruments and government support measures other than As defined by Article 57 (q) of Directive 2006/48/EC (COREP line 1.3.8 included in Difference between the book value and the fair value at the reference date. Please 9%RWA-(Core Tier 1 including existing government support measures-Sovereign for sovereign assets is negative. Please report the prudetnial filter as a negative number if the AFS revaluation reserve is positive. If the bank does not apply a %RWA-Core Tier 1 including existing government support measures; if >0. COREP CA 1.4 = COREP CA 1.1 + COREP CA 1.3.T1* (negative amount) Prudential filters for regulatory capital (COREP line 1.1.2.6.06) References to COREP reporting Sum of Prudential filter and valuation. If negative it is set to 0 Net amount included in T1 own funds (COREP line 1.1.5.1) prudential filter on AFS sovereign assets, please fill in zero Paid up ordinary shares subscribed by government capital buffer for exposures in EEA); if >0. COREP CA 1.1.1 + COREP line 1.1.2. COREP CA 1.3.T1* (negative amount) ralue of the sovereign assets. by government proinary shares $1.3.71^{}$ yrainary $3.71$ 12.78% 12.78% 14.69% $0.00\%$ 0.00% $0.00\%$ $ber 201$ $\frac{1}{1}$
$\frac{430}{9.733}$ $22$ ä $\overline{\phantom{a}}$ $\overline{\bullet}$ ā 1,281 -37 1,244 186 $.283$ 1,244 A) Common equity before deductions (Original own funds without hybrid instruments and
government support measures other than ordinary shares) (+) Of which: (-) securitisation exposures not included in RWA according with CRD3 (2) H) Difference between the book value and the fair value of sovereign assets (Bonds and Of which: (-) IRB provision shortfall and IRB equity expected loss amounts (before tax) B) Deductions from common equity (Elements deducted from original own funds) (-) G) Prudential filter (AFS sovereign assets in EEA as of 30th September 2011) (-/+) Ter 1 Capital (E+F) (Total original own funds for general solvency purposes) -oans and advances) in the HTM and Loans & Receivables portfolios (3). Of which: (-) intangibles assets (including goodwill)
Of which: (-/+) adjustment to valuation differences in other AFS assets E) Core Tier 1 including existing government support measures (C+D) Of which: RWA add-on for CRD III as of end September 2011(2) Of which: (-) deductions of participations and subordinated claims RWA as of end September 2011 including add-on for CRD3 (2) Shortfall to 9% before application sovereign capital buffer werall Shortfall after including sovereign capital buffer ordinary shares subscribed by government F) Hybrid instruments not subscribed by government D) Other Existing government support measures (+) Sovereign capital buffer for exposures in EEA (G+H) Of which: (+) eligible capital and reserves Capital position CRD3 rules C) Common equity (A+B) overeign Capital buffer is and definit Of which:
(1) The amount is already included in the computation of the eligible capital and reserves and it is provided separately for information purposes.
(2) According with CRD3 it can include also 50% securitisation exposures in
Exposures to sovereigne (central, regional and local governments) in EEA, as of 30 September 2011, min EUR
Neme of the bank: DK010
| í í |
|
|---|---|
| ۱ î |
| Fair value of Cash flow and fair value hedging contracts on AFS sovereign asses asses |
$\circ$ $\circ$ $\circ$ 0 popopopopo |
$\circ$ 000000 |
PP $\circ$ |
þ $\circ \circ \circ$ pp 0 0 $\circ \circ \circ$ 0000 |
000000 0 b þ lo lo b lo lo |
|
|---|---|---|---|---|---|---|
| AFS exercite $AFS$ sovereign assets (gross the fair value of Ceas the fair value of Ceas he hedging contracts) ( $\langle \mu, \mu \rangle$ , $\vert n \rangle$ |
$\circ$ $\circ$ lo lo k |
$\circ$ ю lo lo ю b |
b ۰l٥ |
þ ٥ю b 0 0 0 olo þ |
∘∣∘ ∣b∣o |
|
| Prudential filter $AFS$ sovereign assets (including the fair veluding the fair veluding fair of the hedging fair of the hedging contracts) ( $v_1$ ), (i) |
þþ ppp ko ko $\circ$ b |
a c k |
þ þ 00 b |
pp Þ |
||
| Provisions and write-off on Sovereign assets (bans, advances and debt securities) |
||||||
| Memo Item | Nominal Value Debt securities In HTM and Loans and Receivables |
l⊳lo ppp $\circ$ þ olo |
$\circ \circ$ ∍kok b |
þ ю b |
k b |
|
| INDIRECT SOVEREIGN EXPOSURES (3) (on and off balance sheet) |
Net position at fair values (Denvalives with positive fair value + Denvatives with negative fair value) |
000 b þ |
PP ۰þ þ Þ þ þ |
olo þ þ ю ю O Þ |
þ Þ k $\circ$ Þ þ Þ þ P |
Þ Þ ppp ۱P lo lo ola p |
| DIRECT SOVEREIGN EXPOSURES IN DERIVATIVES (1) |
Net position at fair values (Derivatives with positive fair value + Derivatives with negative fair value) |
99999 00 pppp ppp |
$\circ$ ppp юK þ ppp |
юþ 0 p $\circ$ opp ЮF |
þ 0000 $\circ \circ \circ$ $\circ \circ \circ$ 0 0 0 |
ppppppp P pp oop þр |
| debt to aign |
of which: Financial assets held for trading (2) |
00000000 이이이이이이아 |
이이어 $\circ$ $\circ$ $\circ$ |
0 0 0 0 0 0 0 | 00000000 | |
| HET DRECT POSITIONS Ignoss of provisions and write-off exposures (long) net of cash short position of so- Ignoss of provisions and write-off exposures (long) net of cash short position of so- |
of which: Financial assets designated at fair value through profit or loss (FVO) |
0 0 0 이어이 $\circ$ 아이아이 $\circ$ $\circ$ |
0 0 0 ooooo $\circ$ |
o o o o o o $\circ$ o $\circ$ o $\circ$ |
0 0 0 0 0 0 0 00000000 |
00000000 이어 이이이이아 |
| of which: Available for sale financial assets (AFS) |
||||||
| 0 0 0 0 0 0 0 00000000 |
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 |
0 0 0 0 0 0 0 | 오리위에의 시설 호 0 0 0 0 0 0 0 |
000000 olo $\circ$ lololololok |
||
| of which: loans and advances in the HTM and Loans and receivables portfolios |
$\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ 00000 $\circ$ |
00 00000000 이이어 |
o |
$\frac{1}{2}$ 0000 이어 $\circ$ |
$\circ$ o o o o ۰þ 00000000 |
|
| GROSS DIRECT LONG EXPOSURES (accounting value gross of provisions) 10 |
oooooooo $\overline{\phantom{a}}$ 아이아이아이 |
00000000 00000000 | ||||
| Country Residual Maturity |
Belgium Austria |
Bulgaria | Czech Republic Cyprus |
Denmark Estonia |
Finland France 최뇌직원학회회 발치회원회학회 발치회원회학회 발치회원회학회 발치회원회학회 발치회원회학회 발치회원회학 발치회원회원회원 발치회원회 |
| Fair value of Cash flow and fair value hedging contracts on AFS sovereign asses |
$\circ$ $\circ$ $\circ$ $\circ$ | $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ | b | b | ю | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AFS score (gross the fair value of (gross the fair value of Cars the fair value of value hedging contracts) contracts) |
۰þ 00 þ |
þ | ۱≂ | ۱۰ þ |
þ | ю ю |
þ | Þ | |||
| Prudential filter AFS sovereign assets (including the fair value as fair value hedging fair value hedging contracts) ( $\langle \nu \rangle$ [4] |
lo lo k юю Þ |
Þ ю |
∤৽ | P '∣⊳l∘ |
۱۹ | ||||||
| Provisions and write-off on Sovereign assets (loans, advances and debt ascurities) |
|||||||||||
| Memo Item | Nominal Value Debt securities in HTM and Loans and Receivables |
0000 lo lo |
lə ю |
þ | Þ | þ ю Þ |
þ | þ | |||
| INDIRECT SOVEREIGN EXPOSURES (3) (on and off balance sheet) |
Net position at fair values (Derivatives with positive fair value + Derivatives with magative fair value) |
OOKOBRO8OOOOOO | юþ | þ ю |
PP ۱Þ þ |
þ | ю | þ ∞∣∾ |
lo lo k |
þ | |
| DIRECT SOVEREIGN EXPOSURES IN DERIVATIVES (1) |
Net position at fair values (Derivatives with positive fair value + Derivatives with negative fair value) |
0000000000 | $\circ \circ \circ \circ \circ$ 0 |
00000 lо |
OOOOOOO | 0000000 00 00000 0 | $\circ \circ \circ$ ppp Þ |
000 $\sim$ |
$\circ$ $\circ$ $\circ$ lo la |
$\circ$ | |
| debt to reign |
which: Financial asset held for trading (2) $\overline{\sigma}$ |
00000000 | 0000000 | ||||||||
| of which: Financial assets designated at fair value through profit or loss (FVO) |
00000000 | 0000000 00 0000000 | 00000000 | 00000000 | 이어어어어어 | ||||||
| NET DRECT POSITIONS Ignass of provisions and write-off exposures (long) net of cash ahort position of son Other counterparties only where there is maturity matching) $^{11}$ |
of which: Available for sale financial assets (AFS) |
○ ○ ○ ○ ○ ○ ○ | 00000000 | 이이이이아 0 0 |
00000000 | $\circ$ 0 0 0 0 0 0 | 0000 $\circ$ 이어 |
이이어 이어 $\circ$ $\circ$ |
이이 이어 이이 |
$\circ$ 이이이이ㅇ |
0 0 0 0 |
| $\vert$ o $\vert$ 이이이아 |
이이이이 $\circ \circ$ |
0 0 이이이어 |
0 0 0 o∣o |
00000 $\circ$ $\circ$ |
0000 이이아 |
o o o o o o c | 이이이이이아 $\circ$ |
0 0 0 0 0 0 | |||
| of which: loans and advances in the HTM and Loans and receivables portfolios |
0 0 0 0 | $\circ$ $\circ$ $\circ$ $\circ$ $\circ \circ$ |
o o o o o | 00000000 | 00000000 | 00000000 | olololololo | 0000000 | $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ |
ololololol ol | |
| GROSS DIRECT LONG EXPOSURES (accounting value gross of provisions) (1) |
- 0 dolo lo |
0 0 0 0 0 0 0 0 | $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0$ | 00000000 | 00000000 | 0 0 0 0 0 0 | |||||
| Country | Germany | Greece (5) | Hungary | Iceland | Ireland | ttaly | Latvia | Liechtenstein | Lithuania | Luxembourg | |
| Residual Maturity | · 복더워워워링현트뵘더워워워힝햪트뵘쉬워워킹회햗트뵘쉬워워헤햑트뵘쉬워워헝헝트뵘쉬워워이화트뵘쉬워이 보여 아이 그 사이 아이 그 사이 그 사이 그 사이 사이 있습니다 아이 그 사이 그 사이 그 사이 그 사 |
| Fair value of Cash flow and fair value hedging contracts on AFS sovereign assets |
$\circ$ | ⋗∣⇔∣ | $\circ$ $\circ$ $\circ$ $\circ$ þ ю |
POOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO | o o o o o o | b k ᅇ |
lo lo $\circ$ |
$\mathsf{b}$ o o o |
|||
|---|---|---|---|---|---|---|---|---|---|---|---|
| $AES$ according $BFS$ according assets (gross the fair value of $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\frac{1}{2}$ $\$ |
b lo lo |
k ю |
0 0 b∣∘ |
k 000 |
۱Þ | þ ۱۶ |
þ | ||||
| Prudential filter AFS sovereign assets (preluding the fair value hedging air value hedging fair value hedging contracts) ( $(vA)$ 14 ) |
pppp | k ¦∣o o |
ю оþ |
Þ | |||||||
| Provisions and write-off on Sovereign assets (bans, advances and debt securities) |
|||||||||||
| Memo Item | Nominal Value Debt securities In HTM and Loans and Receivables |
ppppp | ю | ю þ |
þ | b | |||||
| INDIRECT SOVEREIGN EXPOSURES(3) (on and off balance sheet) |
Net position at fair values (Derivatives with positive fair value + Derivatives with negative fair value) |
٥þ PPP |
lo lo 0 0 0 0 Þ |
0 0 pppp O |
$\triangleright$ Þ $\triangleright$ ю |
þ ю |
$\triangleright$ ololo |
P lo lo lo lo |
o pppp |
$\circ$ ᅇ b |
olok |
| DIRECT SOVEREIGN EXPOSURES IN DERIVATIVES (1) |
Net position at fair values (Derivatives with positive fair value + Derivatives with negative fair value) |
∥∘∣∘∣∘∣∘∣∘∣ | $\circ$ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 | 0 0 | pppppppppppp | $\sim$ | 00000 | þ þ |
$\circ$ $\circ$ $\circ \circ \circ$ |
>lololo | |
| rereign debt to | of which: Financial ass held for trading (2) |
0 0 0 0 0 0 0 | 00000000 00000000000000000000000000000 | 000000 o∣o |
0000000 00 000 | $\circ \circ \circ$ | 00000 | ||||
| NET DRECT POSITIONS Ignoss of provisions and write-off exposures (long) net of cash short position of so Ignoss of provisions and write-off exposures (long) net of cash short position of so |
of which: Financial assets designated at fair value through profit or loss |
0 0 0 0 0 0 0 | $\circ$ $\circ$ $\circ$ $\circ$ | 이아 아아아아 $\circ$ |
이야이 | olololo ol ololololololo | 000000000000 | o o o | 0000000 | ||
| of which: Available for sale financial assets (AFS) |
∥∘∣∘∣∘∣∘∣∘∣∘∣ ∘ | ||||||||||
| 0 0 o o o o c |
$\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ | 00000000 | 00000000 | 00000000 000000000 | 00000000 | 00000000 | $ $ o $ $ o $ $ o $ $ o $\circ$ o $\circ$ |
$\circ \circ \circ \circ \circ \circ \circ$ | |||
| of which: loans and advances in the HTM and Loans and receivables portfolios |
$\circ$ o o o o c |
$\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ | $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ |
$ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0$ | 0000000 00000000 | 이어어어어 | $\circ$ 0 0 0 $\circ$ $\circ$ |
0 0 0 0 $\circ \circ \circ$ |
$\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ | ||
| GROSS DIRECT LONG EXPOSURES (accounting value gross of provisions) (1) |
$\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ | $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ | ololololololo o lololololololo lolololol | 00000000 | 0 0 $\circ$ $\circ$ $\circ$ $\circ$ |
0 0 0 0 0 0 0 | 이이이이이이야 | ||||
| Country | Matta | Netherlands | Norvay | Poland | Portugal | Romania | Slovakia | Slovenia | Spain | Sweden | |
| Residual Maturity | ' খন্যখণ্ড আৰু খন্যখন আৰু খন্যখন আৰু আৰু আৰু আৰু আৰু আৰু আৰু আৰু আৰু আৰু |
| Fair value of Cash flow and fair value |
ö | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| (gross the fair value of AFS sovereign asset Reserve |
|||||||||
| AFS sovereign assets (including the fair Prudential filter |
|||||||||
| Provisions and write-off on |
0 | c | |||||||
| Memo Item | In HTM and Loans Debt securities and Receivables Nominal Value portfollos |
s | |||||||
| (on and off balance sheet) INDIRECT SOVEREIGN EXPOSURES (3) |
Derivatives with positive fair Net position at fair values value + Derivatives with negative fair value) |
66.37 | |||||||
| DIRECT SOVEREIGN DERIVATIVES (1) EXPOSURES IN |
(Derivatives with positive fair Net position at fair values value + Derivatives with negative fair value) |
||||||||
| off exposures (long) net of cash short position of sovereign debt to | of which: Financial assets held for trading (2) |
이 | o | ٥ | DA | ||||
| other counterparties only where there is maturity matching) (1) NET DIRECT POSITIONS |
designated at fair value of which: Financial assets through profit or loss (FVO) |
$\circ$ | c | ۰ | c | ć | |||
| of which: Available for sale financial assets (MFS) |
$\sim$ | $^{\circ}$ | $\sim$ | $\overline{\phantom{a}}$ C |
$\circ$ | ||||
| $\circ$ | O | a | 420 | ||||||
| GROSS DIRECT LONG EXPOSURES (accounting (gross of provisions and write value gross of provisions) (1) |
advances in the HTM of which: Joans and receivables portfolios and Loans and |
$\circ$ | $\circ$ | c | 438 | ||||
| O | O | 167 | |||||||
| Country | United Kingdom | TOTAL EEA 30 | |||||||
| Residual Maturity | 3M | $\overline{Y}$ | $\geq$ | $\frac{37}{56}$ | $\frac{167}{161}$ |
ikits and definitions
(3) The state and overcome to certal, regional and Leagues and the media between the state of the contents with function and a counterparticles.
(3) The state and the state of the state of the far the
| Name of the bank: | DK010 | Sydbank |
|---|---|---|
| (in million Euro) | ||
| Rules at the end of September | CRD 3 rules | |
| Total RWA (1) | 9,733 9,721 |
|
| RWA for credit risk | 7,412 7,412 |
|
| RWA Securitisation and re-securitisations | ı j |
|
| RWA Other credit risk | 7,412 7,412 |
|
| RWA for market risk | 1,236 1,224 |
|
| RWA operational risk | 1,085 1,085 |
|
| Transitional floors (2) | ||
| RWA Other | ||
| Notes and definitions |
Composition of RWA as of 30 September 2011
(1) The RWA calculated according to CRD III can be based on models that have not yet been approved by the National Supervisory Authority.
(2) All IRB/AMA banks in the exercise have applied transitional floor which assess the impact 80% of the Basel 1 requirements.
However, wide divergences in national approaches to the floors means that two main approaches h
option2
CDS and other contract Sovereign exposures (central, regional and local governments) in EEA towards other counterparties, as of 30 September 2011, min EUR
Name of the bank: DK010 Sydbank
| Credit default swaps (CDS) and other contracts (1) | |||||||
|---|---|---|---|---|---|---|---|
| Bank is protection seller | Bank is protection buyer | ||||||
| Country (2) | Notional amount outstanding (3) |
Notional amounts outstanding (3) |
|||||
| Austria | ×, | u, | |||||
| Belgium | $\overline{a}$ | ||||||
| Bulgaria | |||||||
| Cyprus | |||||||
| Czech Republic | ä, | L. | |||||
| Denmark | ٠ | ||||||
| Estonia | - | L. | |||||
| Finland | ä, | ||||||
| France | |||||||
| Germany | ÷ | ||||||
| Greece | |||||||
| Hungary | 19 | 19 | |||||
| Iceland | ÷ | - | |||||
| Ireland | ٠ | ÷ | |||||
| Italy | 4 | 4 | |||||
| Latvia | |||||||
| Liechtenstein | $\overline{a}$ | ٠ | |||||
| Lithuania | ٠ | Ξ | |||||
| Luxembourg | ٠ | - | |||||
| Malta | ä. | ω | |||||
| Netherlands | ä, | ۷ | |||||
| Norway | |||||||
| Poland | 4 | 4 | |||||
| Portugal | $\overline{\phantom{0}}$ | ||||||
| Romania | ٠ | ||||||
| Slovakia | ٠ | ۰ | |||||
| Slovenia | |||||||
| Spain | |||||||
| Sweden | ۰ | ||||||
| United Kingdom | ۰ | ÷ |
(1) It includes credit derivatives and other credit risk transfer contracts/instruments that irrespective of the denomination respresent indirect exposures (as protection seller/buyer) on sovereign risk (reference entity)
(2) The country identifies the reference entity single name of the CDS and other contracts.
(3) Notional amounts outstanding: Nominal or notional amounts outstanding are defined as the gross nominal or notional value of all contracts concluded and not yet settled on the reporting date. For contracts with variable nominal or notional principal amounts, the basis for reporting is the nominal or notional principal amounts at the time of reporting.