CRÉDIT AGRICOLE S.A. Press release
Montrouge, 29 July 2016
Crédit Agricole Group's financial robustness confirmed
by the 2016 stress test results
The Crédit Agricole Group (Crédit Agricole S.A. and the Regional Banks) was subject to the 2016 EU-wide stress test conducted by the European Banking Authority (EBA), in cooperation with the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the European Central Bank (ECB), the European Commission and the European Systemic Risk Board (ESRB).
The 2016 EU-wide stress test does not contain a pass fail threshold and instead is designed to be used as a crucial piece of information for the supervisory review process in 2016.
The adverse stress test scenario was set by the ECB / ESRB and covers a three-year time horizon (2016-2018). The stress test has been carried out applying a static balance sheet assumption as at December 2015, and therefore does not take into account future business strategies and management actions. It is not a forecast of Crédit Agricole Group profits.
In the toughest stress scenario, the Crédit Agricole Group's phased-in CET1 capital ratio would be reduced by 300 basis points over 3 years, dropping from 13.5% (level of the phased-in ratio at 31 December 2015) to 10.5% by 31 December 2018.
Accordingly, in the toughest stress scenario, the Crédit Agricole Group would meet all the constraints applicable to it, since the minimum regulatory requirement set by the Supervisor in December 2015 (SREP) plus the systemic risk buffer applicable to the Group at 1 January 2019 (1%) add up to 10.5%.
Furthermore, in the central scenario of the 2016 EU-wide stress test conducted by the EBA, the Crédit Agricole Group's ratio would stand at 14.8% at 31 December 2018.
Detailed information can be found on the EBA's website using the following link: http://www.eba.europa.eu
Press Contact
Louise Tingström +44 7899 066995
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CREDIT AGRICOLE SA via Globenewswire
