Following the communication received by the Single Resolution Board (SRB) and Banca d'Italia, the following Minimum Requirements for Own Funds and Eligible Liabilities (MREL) apply to UniCredit SpA on a consolidated basis.
The intermediate binding MREL is confirmed equal to:
• 20.73 percent of Risk Weighted Assets (RWA) plus the applicable Combined Buffer Requirement (CBR)
• 5.90 percent of Leverage Ratio Exposures (LRE)
The intermediate binding MREL subordinated component, i.e. to be met with subordinated instruments, is confirmed equal to:
• 11.79 percent of RWA plus the applicable CBR
• 5.68 percent of LRE
From 1 January 2024 the fully loaded MREL will be equal to:
• 22.13 percent of RWA plus the applicable CBR
• 6.02 percent of LRE
The fully loaded MREL subordinated component will be equal to:
• 15.36 percent of RWA plus the applicable CBR
• 6.02 percent of LRE
The above subordination requirements take into account the "senior allowance" benefit, which allows to meet part of the subordinated requirement with senior (non-subordinated) instruments.
As of 1Q23, UniCredit is well above the mentioned requirements, with MREL eligible liabilities equal to:
• 30.90 percent of RWA
• 9.34 percent of LRE
The MREL subordinated eligible liabilities are equal to:
• 23.83 percent of RWA
• 7.21 percent of LRE
Milan, 15 May 2023
Contacts:
Media Relations e-mail: MediaRelations@unicredit.eu
Investor Relations e-mail: InvestorRelations@unicredit.eu