0001193125-15-412899.txt : 20151223 0001193125-15-412899.hdr.sgml : 20151223 20151223163333 ACCESSION NUMBER: 0001193125-15-412899 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20151223 FILED AS OF DATE: 20151223 DATE AS OF CHANGE: 20151223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BANCO BILBAO VIZCAYA ARGENTARIA, S.A. CENTRAL INDEX KEY: 0000842180 STANDARD INDUSTRIAL CLASSIFICATION: COMMERCIAL BANKS, NEC [6029] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10110 FILM NUMBER: 151306181 BUSINESS ADDRESS: STREET 1: PASEO DE LA CASTELLANA, 81 CITY: MADRID STATE: U3 ZIP: 28046 BUSINESS PHONE: 011 34 91 537 8172 MAIL ADDRESS: STREET 1: PASEO DE LA CASTELLANA, 81 CITY: MADRID STATE: U3 ZIP: 28046 FORMER COMPANY: FORMER CONFORMED NAME: BANCO BILBAO VIZCAYA ARGENTARIA S A DATE OF NAME CHANGE: 20000505 FORMER COMPANY: FORMER CONFORMED NAME: BANCO BILBAO VIZCAYA S A DATE OF NAME CHANGE: 19991103 6-K 1 d110533d6k.htm 6-K 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of December, 2015

Commission file number: 1-10110

 

 

BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

(Exact name of Registrant as specified in its charter)

BANK BILBAO VIZCAYA ARGENTARIA, S.A.

(Translation of Registrant’s name into English)

 

 

Calle Sauceda 28

28050 Madrid

Spain

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  x            Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes  ¨            No   x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes  ¨            No   x

 

 

 

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with the Securities Market legislation, hereby proceeds by means of the present document to notify the following:

RELEVANT EVENT

As a result of the supervisory review and evaluation process (SREP) carried out by the European Central Bank (ECB), BBVA has been communicated by the ECB its requirement to maintain a common equity tier 1 (CET1) phased-in capital ratio of 9.5%, both on a consolidated and an individual basis.

The decision determines that the CET1 capital ratio of 9.5% includes: (i) the minimum CET1 capital ratio required under Pillar 1; (ii) the capital ratio required under Pillar 2; and, (iii) the capital conservation buffer. 1

In addition, during 2016 BBVA will be required to maintain a G-SIB buffer of 0.25% on a consolidated basis. Therefore, the minimum CET1 phased-in capital requirement for 2016 will be 9.75% on a consolidated basis.

BBVA has been excluded from the Financial Stability Board G-SIB list with effect as of 1st January 2017. Therefore, this G-SIB buffer will no longer then be applicable to BBVA. Nevertheless, Bank of Spain has communicated to BBVA its consideration as a domestic systemic financial institution (D-SIB) and as such will be required instead to maintain a D-SIB buffer as of such date.2

As of 30th September 2015, BBVA holds a CET1 phased-in capital ratio of 11.7% on a consolidated basis and 17.4% on an individual basis. Such ratios are above regulatory requirements and therefore do not imply the trigger of any regulatory restriction or limitation on payments of dividends, variable remuneration and payments of interest to holders of additional tier 1 capital instruments.

Madrid, 23rd December 2015

 

1  (i) the minimum CET1 capital ratio required to be maintained under Article 92(1)(a) of Regulation (EU) No 575/2013; (ii) the CET1 capital ratio required to be held in excess of that minimum CET1 capital ratio and to be maintained in accordance with Article 16(2)(a) of Regulation (EU) No 1024/2013; and (iii) the capital conservation buffer that will be required under Article 44 of Law 10/2014 and its developing regulations as from 1st January 2016.
2  As a D-SIB, BBVA is required to hold a D-SIB buffer of 0.5% on a consolidated basis. This buffer will be phased-in in four years and will be fully implemented in 2019.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    Banco Bilbao Vizcaya Argentaria, S.A.
Date: December 23, 2015     By:  

/s/ Ricardo Gómez Barredo

    Name:   Ricardo Gómez Barredo
    Title:   Head of Global Accounting & Information Management