The accompanying table shows the amount of eligible capital, net of deductions, of the different elements comprising the capital base:
Table 5. Amount of capital
(Million euros)
|
|
31/12/2015 | 31/12/2014 |
|---|---|---|
| a) Capital and share premium | 27,112 | 27,016 |
| b) Retained earnings | 21,022 | 18,813 |
| c) Other accumulated earnings (and reserves) | (1,904) | (1,272) |
| d) Minority interests | 7,143 | 1,886 |
| e) Net attrib. profit and interim and final Group dividends | 1,456 | 1,871 |
| Ordinary Tier 1 Capital before other reglamentary adjustments | 54,829 | 48,314 |
| f) Additional value adjustments | (195) | (340) |
| g) Intangible assets | (3,901) | (1,747) |
| h) Deferred tax assets | (75) | (28) |
| i) Expected losses in equity | (31) | (44) |
| j) Profit or losses on liabilities measured at fair value | (136) | (67) |
| k) Direct and indirect holdings of own instruments | (511) | (588) |
| l) Securitizations tranches at 1250% | (89) | (158) |
| m) Temporary CET1 adjustments | (788) | (724) |
| n) Admisible CET1 deductions | (549) | (2,786) |
| Total Common Equity Tier 1 regulatory adjustments | (6,275) | (6,482) |
| Common Equity Tier 1 (CET1) | 48,554 | 41,832 |
| o) Equity instruments and share premium classified as liabilities | 4,439 | 2,735 |
| p) Items referred in Article 484 (4) of the CRR | 862 | 1,470 |
| Additional Tier 1 before reglamentary adjustments | 5,302 | 4,205 |
| q) Temporary adjustments Tier 1 | (5,302) | (4,205) |
| Total reglamentary adjustments of Additional Tier 1 | (5,302) | (4,205) |
| Additional Tier 1 (AT1) | - | - |
| Tier 1 (Common Equity Tier 1+Additional Tier 1) | 48,554 | 41,832 |
| r) Equity instruments and share premium | 2,006 | 2,223 |
| s) Amount of the admissible items, pursuant to Article 484 | 429 | 604 |
| t) Admissible shareholders' funds instruments included in consolidated Tier 2 issued by subsidiaries and held by third parties | 5,716 | 5,366 |
| -Of which: instruments issued by subsidiaries subject to ex-subsidiary stage | (99) | 1,051 |
| u) Credit risk adjustments | 3,496 | 2,793 |
| Tier 2 before reglamentary adjustments | 11,646 | 10,986 |
| Tier 2 reglamentary adjustments | - | - |
| Tier 2 | 11,646 | 10,986 |
| Total Capital (Total capital = Tier 1 + Tier 2) | 60,200 | 52,818 |
| Total RWA's | 401,285 | 350,802 |
| CET 1 (phased-in) | 12.1% | 11.9% |
| CET 1 (fully-loaded) | 10.3% | 10.4% |
| Tier 1 (phased-in) | 12.1% | 11.9% |
| Tier 1 (fully-loaded) | 11.6% | 11.1% |
| Total Capital (phased-in) | 15.0% | 15.1% |
| Total Capital (fully-loaded) | 14.4% | 14.2% |
The process followed is shown below, according to the recommendations issued by the EBA and in line with the exercise of transparency conducted by the Bank. Based on the shareholders’ equity reported in the Group’s Annual Consolidated Financial Statements and by applying the deductions and adjustments shown in the table below, the regulatory capital figure for solvency purposes is arrived at:
Table 6. Reconciliation of the Public Balance Sheet from the accounting perimeter to the regulatory perimeter
(Millions of euros)
|
|
31/12/2015 | 31/12/2014 |
|---|---|---|
| Elegible capital | Reconciliation of the Public Balance Sheet from the accounting perimeter to the regulatory perimeter | Reconciliation of the Public Balance Sheet from the accounting perimeter to the regulatory perimeter |
| Total shareholders's funds (public balance sheet) | 50,640 | 49,447 |
| Capital | 3,120 | 3,024 |
| Share premium | 23,992 | 23,993 |
| Reserves | 22,512 | 20,936 |
| Other equity instruments | 35 | 67 |
| Own shares in portfolio | (309) | (350) |
| Attributed net income | 2,642 | 2,618 |
| Attributed dividend | (1,352) | (841) |
| Total equity (public balance sheet) | 55,440 | 51,610 |
| Valuation adjustments | (3,349) | (348) |
| Minority interests | 8,149 | 2,511 |
| Shares and other eligible preferred securities | 5,302 | 4,205 |
| Deductions | (4,411) | (1,872) |
| Goodwill and other intangible assets | (3,901) | (1,748) |
| Fin. treasury stock | (95) | (124) |
| Indirect treasury stock | (415) | |
| Equity not eligible at solvency level | (828) | (3,707) |
| Valuation adjustments not eligible as basic capital | (788) | (3,567) |
| Capital gains from the Sovereign AFS fixed-income portfolio | (796) | (2,713) |
| Capital gains from the AFS equity portfolio | 8 | (854) |
| Valuation adjustments not eligible as basic capital (minority) | - | (140) |
| Minority interests valuation adjustments | - | (14) |
| Remuneration of the Aditional Level 1 equity instruments | - | (126) |
| Perimeter differences | (40) | |
| Other adjustments and deductions | (1,647) | (1,414) |
| Tier 1 (before deductions) | 53,856 | 48,822 |
| (-) Tier 1 deductions | (5,302) | (6,990) |
| Tier 1 | 48,554 | 41,832 |