Investor Presentaiton
☑
NCC capital target set at RUB 51 bln for 2015
Approach to setting target capital
CBR regulation of
capital adequacy ratio
Risk weighted assets
(RWA) less provisions
■ Market risk
(according to 387-P)
Operational risk
NCC capital (eop)
RUB bln
13,2
2012
CCP Stress-tests
■ Market risk
Core Tier 1 ratio
(N1) >10%
■ Credit risk
■ CCP risk
51,0
41,4
38,9
28,8
Capital should be
sufficient to (i) cover
potential losses under
a stress scenario and
(ii) keep business
operational
Key factors that impacted the target capital:
Rapid growth of market participants balances in 2014,
particularly FX denominated
Ruble devaluation
Expected abolishment of temporarily requirements for
RWA in FX set by the CBR under 211-T regulation
Key factors to watch:
Changes in client balances
✓ Interest rates in the US and EU
MOEX and CBR collaboration on regulation
developments on NCC as a Central counterparty
(CCP)
✓
2013
2014
Current Target 2015
MOSCOW
EXCHANGE
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