calculate and track capital adequacy ratios in future
quarters.
The TIER I ratio stands at 8.2%, 50 basis points
higher than the end of the first quarter, and the ratio
of preference securities to core equity, in accordance
with the BIS rules, comes to 22.9%.
Other eligible capital (TIER II), which mainly consists
of subordinated debt, eligible latent capital gains and
generic provisions in excess of the limits defined in
the rules, amounted to €11,340m and therefore the
Tier II ratio is 3.9%. This complementary capital
increased 0.1% compared to the first quarter owing
mainly to higher eligible latent capital gains.
As a result, the BIS ratio at the end of June 2009
was 12.2%, 70 basis points higher than at the end of
the previous quarter.
Ratings
Moody’s
Fitch
Standard & Poor’s
Capital base: BIS II ratio
(Percentage)
Tier II
Tier I
Core capital
Ratings
Last May, Moody’s placed BBVA under review for a
possible downgrade.
12.5
4.8
7.7
6.3
June
2008
Long term Short term
Financial strength Outlook
Aa1 P-1 B Creditwatch Negative
AA- F-1+ A/B Positive
AA A-1+ - Negative
12.2
4.3
7.9
6.2
December
2008
2Q09 GROUP INFORMATION
Capital base
11.5
3.8
7.7
6.4
March
2009
12.2
3.9
8.2
6.9
June
2009
19
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