Credit Suisse Capital Metrics and Core Results 9M16
Credit Suisse in a nutshell
New TBTF capital requirements for internationally operating
SIBS in Switzerland - Credit Suisse shortfall/issuance requirement
Capital adequacy amounts, Swiss look-through in CHF bn
94.9
Shortfall
70.7
(20.5)4
47.4
Bail-in debt
instruments1
26.9
Gone
concern
Through 2019 we expect to replace
existing callable capital instruments
with fully compliant going concern
high-trigger AT1 capital instruments
■■We expect to replace a portion of
maturing Bank (OpCo) instruments
through 2019 with ~CHF 21 bn of
TLAC instruments to reach our
estimated gone concern requirement
14.2
(2.6)
Additional tier 12
11.6
(incl. high-trigger Tier 1 and
Tier 2, and low-trigger Tier 1
Going
instruments)
concern
CET1
32.2
33.2
(1.0)
TBTF = "Too Big to Fail".
capital instruments.
Credit Suisse
end 3Q16
Requirements³
by 1.1.2020
SIBS Systemically important banks. CET1 = Common Equity Tier 1. AT1 Additional Tier 1. 1 Includes CHF 22.7 bn bail-in debt instruments and CHF 4.2 bn of Tier 2 low-trigger
2 Includes CHF 5.8 bn of additional Tier 1 high-trigger capital instruments, CHF 5.1 bn of additional Tier 1 low-trigger capital instruments and CHF 0.7 bn of Tier 2 high-trigger capital instruments.
3 Based on end 3Q16 look-through leverage exposure of CHF 949 bn. 4 Does not reflect maturities of outstanding bail-in debt instruments that could impact gone concern eligibility.
Note: In May 2016 the Swiss Federal Council amended the Capital Adequacy Ordinance (CAO) which recalibrates and expands the existing "Too Big to Fail" regime in Switzerland. The amended CAO came into effect on July 1,
2016, subject to phase-in and grandfathering provisions for certain outstanding instruments, and has to be fully applied by January 1, 2020.
CREDIT SUISSE
November 2016
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