DGAP-Adhoc: The final deduction specified for Commerzbank in European Banking Authority's (EBA) scenarios amounts to EUR 5.305 billion

Commerzbank AG  / Key word(s): Miscellaneous

08.12.2011 18:06

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

The final deduction specified for Commerzbank in European Banking
Authority's (EBA) scenarios amounts to EUR 5.305 billion

As required by the European Council, 71 internationally operating European
banks are required to comply with a Core Tier 1 ratio of 9% by June 30,
2012, after accounting for the effects of a simulated partial default on
European sovereign bonds. This substantially exceeds the current regulatory
requirements. At present Commerzbank's Core Tier 1 ratio is 9.4% (as of
September 30, 2011).

With a view to the resolutions adopted by the EU, the EBA has now finally
determined the capital deductions provisionally stated on October 26, 2011.
The final deduction specified for Commerzbank in EBA's scenarios amounts to
EUR 5.305 billion (provisional deduction: EUR 2.938 billion). This final
deduction, too, is accounted for virtually entirely by EBA's default
assumptions for European sovereign bonds in the portfolios of Eurohypo. In
contrast, the core business of Commerzbank is practically unaffected.

The amount of the additional charge that exceeds the provisional deduction
from October 2011 results almost entirely from the further escalation of
the European state debt crisis. Thus, for example, the total deduction
originally set by the EBA for Italy, Greece and Spain has been increased by
some EUR 2 billion compared to the provisional EBA figure. In addition,
there were further impacts from the adjustment of the regulatory capital
under Basel 2.5 as per the end of the year which had not been taken into
consideration by the EBA to date, and a smaller exchange rate-related
increase in the risk-weighted assets in the third quarter of 2011.


Contact:
Commerzbank AG
Group Communications
Tel.: +49 69 136 - 22830
mediarelations@commerzbank.com






08.12.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Commerzbank AG
              Kaiserplatz
              60261 Frankfurt am Main
              Germany
Phone:        +49 (069) 136 20
Fax:          -
E-mail:       ir@commerzbank.com
Internet:     www.commerzbank.de
ISIN:         DE0008032004
WKN:          803200
Indices:      DAX, CDAX, HDAX, PRIMEALL
Listed:       Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
              Standard), Hamburg, Hannover, München, Stuttgart; Terminbörse
              EUREX; London, SIX
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------