Q2 2018 Fixed Income Investor Conference Call
Minimum Requirement for Own Funds and Eligible
Liabilities (MREL), Total Loss Absorbing Capacity (TLAC)
DB has a total loss absorbing capacity which is € 18bn above MREL and € 40bn above 2019 Transitional TLAC requirements (1)
€ 119bn
Plain-vanilla
senior debt (2)
€ 57bn
€ 1bn TLAC adjustments (3)
AT1/Tier 2(4)
€ 14bn
CET1(4)
€ 48bn
Estimated available
TLAC/MREL
€ 101bn
9.14%
(of € 1,102bn)
MREL requirement
(TLOF(5)-based)
€ 79bn
6.0%
(of € 1,324bn)
TLAC requirement (6)
(Leverage-based)
-
(1)
(4)
New MREL requirement in-line with Deutsche Bank's expectations and consistent with the bank's funding plans
Based on final FSB term sheet requirements: higher of 16%/18% RWAS (plus buffers) and 6%/6.75% of leverage exposure from 2019/2022; disclosure aligned to March 2017 Basel
Committee enhanced Pillar 3 disclosure standard; EU rules still to be finalized
IFRS carrying value incl. hedge accounting effects; incl. all senior debt >1 year (incl. callable bonds, Schuldscheine, other domestic registered issuance); excludes legacy non-EU law bonds
Exclusion of Tier 2 instruments with maturity <1 year; add-back of regulatory maturity haircut for Tier 2 instruments with maturity >1 year; G-SIB TLAC holding deductions
Regulatory capital under fully loaded rules; includes AT1 and Tier 2 capital issued out of subsidiaries to third parties which is eligible until YE 2021 according to the FSB term sheet
Total Liabilities and Own Funds: Principally IFRS total liabilities with derivatives after consideration of netting and IFRS equity replaced by total regulatory capital (own funds)
TLAC leverage requirement currently binding constraint. RWA based 2019 Transitional TLAC requirement of € 71bn (€ 348bn RWA times 20.5%)
Deutsche Bank
Investor Relations
Q2 2018 Fixed Income Investor Call
27 July 2018
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