cuentas anuales caixabank 2019

As this is an overview, it is worth stating that the downside risks surrounding the macroeconomic scenario are not insignificant. All rights reserved. Approval based on the borrower’s repayment ability and an appropriate return. CUENTAS ANUALES DE LA FUNDACIÓN BANCARIA CAIXA D'ESTALVIS I PENSIONS DE BARCELONA, "LA CAIXA", correspondientes al ejercicio 2018 Cuentas anuales que formula el Director General, el 28 de marzo de 2019 para la posterior aprobación por el Patronato. In the case of the latter, this percentage will only be applied to the guaranteed part of the risk. In the event of financial difficulties, the borrowers are given concessions or advantages that would otherwise not be considered. Another activity that is undertaken is to ensure that best practices in integrity and rules of conduct are followed. The position in public, regional and local debt is subject to the general concentration and country risk limits established. In the face of this context of a downturn in macroeconomic conditions, the main central banks have repositioned their monetary policies. (1) Mainly corresponds to assets provided in repurchase agreements and ECB financing transactions. Available stable funding is defined as the proportion of own funds and customer funds that are expected to be stable in the time horizon of one year. 523 Pages. The outlay policy, mainly concerning property development and self-development operations. Cuentas Anuales Ejercicio 2018 CaixaBank Asset Management. (*) Includes autonomous communities that combined represent no more than 10% of the total. As regards issuances, the Group’s policies take into account a balanced distribution of maturities, preventing concentrations and diversifying financing instruments. All of this could be worsened if the regulatory requirements applicable to these new competitors were not the same as those in place for current credit institutions. There are specific policies according to the type of operation and its term, which require a higher level of authority for their approval. Incorporation of forward-looking information into the expected loss models. (1) Assets under the calculation of the LCR (Liquidity Coverage Ratio). For pricing purposes, all the factors associated with the operation will be considered. Agreements whereby the parties undertake to deliver collateral to each other for the net counterparty risk exposure arising from differences between the value of the sum accrued by simultaneous buying and selling of securities and the market value of the securities. The Group has Corporate Policies approved by the Board of Directors that establish the risk management and control framework, including: This risk is mainly managed by assessing whether the group's financial information complies with the following principles: In order to manage and monitor the risk, the Group has implemented an internal control structure based on the aforementioned 3 lines of defence model: Risk defined as the negative impact on the economic value of balance sheet items or on financial income due to changes in the temporary structure of interest rates and their impact on asset and liability instruments and those off the Group's balance sheet not recognised in the trading book. Identify, assess, classify and internally report significant changes in inherent risks assumed in its environment and business model. (2) Sensitivity of economic value for sensitive balance sheet aggregates on Tier 1. The breakdown of refinancing by economic sector is as follows: Refinancing 31-12-2019 (Millions of euros), Maximum amount of theimpairment collateral, Other financial corporations and individual entrepreneurs (financial business), Non-financial corporations and individual entrepreneurs (non-financial business), Of which: Financing for real estate construction and development (including land), Memorandum items: Financing classified as non-current assets held for sale (*). A QUIÉN REPRESENTAMOS Los miembros que componen CECA son entidades de crédito, fundaciones bancarias y fundaciones de carácter general vinculadas al sector bancario. An evento operacional is the implementation of an identified operational risk, an event that causes an operational loss. 2The initials refer to the Capital Requirements Regulation and Directive (CRR/CRD), the Bank Recovery and Resolution Directive (BRRD), and the Single Resolution Mechanism Regulation (SRMR). En Piratas de lo público, Losada denuncia el liberalismo corsario que gobierna nuestro país y amenaza con destruir nuestro sistema público y a quienes intentan engañarnos con falsos argumentos para convencernos de que los derechos ... They mainly involve specific processing with reference to operations of a small relative amount, refinancing, person's alerts, risk monitoring activity, debt ratios and scoring diagnosis. On the other hand, counterparty risk mitigation measures are specified in section 3.3.5. It is displayed below: (*) Charges for VaR and stressed VaR are identical and correspond to the maximum between the last value and the arithmetic mean of the last 60 values, multiplied by a factor depending on the number of times the actual daily result was less than the estimated daily VaR. Memoria de las cuentas anuales correspondiente al ejercicio anual terminado el 31 de diciembre de 2020 (Expresada en euros) 1 1. La diplomacia corporativa es el desarrollo instrumental de la estrategia de la empresa en su relación con los poderes públicos y privados ante los cambios estratégicos. It applies to individuals. In order help with the proactive management of evidence and indications of impairment and a significant increase in risk, the Group has developed triggers, for borrowers and for the operation, that are grouped according to the sector to which they belong, since the latter conditions the type of information required to analyse the credit risk and the sensitivity to the changes of variables indicative of the impairment. For individuals, collateral is estimated on the basis of asset declarations. The Group monitors and ensures compliance with the regulatory limits (25% of eligible own funds) and the concentration risk appetite thresholds. The Global Risk Committee fosters an action plan and draws up a schedule, If a previous plan existed, explanation of why the corrective measures have not worked and definition of a proposal of action taken for the approval of the Risk Committee, Governance process of the Recovery Plan to reduce the possibility of bankruptcy, Status of non-complicance and action plans, Status of non-compliance and action plans. As regards the political arena, the Socialist Party won the elections on 6 October 2019 without reaching an absolute majority. Hemos auditado las cuentas anuales de CAIXABANK CONSUMO 3, Fondo de Titulización (el Fondo), que comprenden el balance a 31 de diciembre de 2019, la cuenta de pérdidas y ganancias, el estado de flujos de efectivo, el estado de ingresos y gastos reconocidos y la memoria correspondientes al The establishment of risk management and control policies in coordination with the first line of defence, assessing their subsequent compliance. The value decrease of the assets or value increase of the liabilities included in the trading portfolio, due to fluctuations in rates, exchange rates, credit spreads, external factors or prices on the markets where those assets/liabilities are traded. Covers all companies and business groups that operate in the tourism and food and agriculture sectors. (4) On 24 April 2019, the Bank of Spain notified CaixaBank about the MREL requirement. Mitigating factors: the effects of an environment of persistently low interest rates could result in the materialisation of the structural interest rate risk and the business risk. Agreements whereby each of the parties undertake to provide collateral (usually a cash deposit) as security for the net counterparty risk position arising from the derivatives traded between them, on the basis of a prior close-out netting agreement included in the clauses of the ISDA/CMOF contracts. The breakdown, by contractual term to maturity of the balances of certain items on the balance sheets, in a scenario of normal market conditions, is as follows: Residual maturity periods 31-12-2019 (Millons of euros), Cash and cash balances at central banks and other demand deposits *, Financial assets held for trading – Derivatives, Financial assets held for trading – Debt securities, Financial assets compulsorily measured at fair value through profit or loss, Financial assets designated at fair value through profit or loss, Financial assets at fair value through equity, Financial liabilities held for trading – Derivatives, Of which are wholesale issues net of treasury shares and multi-issuers, Financial assets under the insurance business - Debt securities. Strategic Events are the most relevant adverse occurrences that may represent a medium-term threat to the CaixaBank Group. Sovereign risk exposure - 31-12-2018 (Millions of euros), Sovereign risk exposure - 31-12-2017 (Millions of euros). Authority from the Annual General Meeting to issue securities. The figures for the Group's main training initiatives in the field of promoting risk culture are as follows: Promoting the corporate risk culture is a key element for maintaining a robust and coherent framework in line with the Group's risk profile. These enable the Entity to manage the defence of each of them individually, and to identify and update the provisions necessary to cover a hypothetical outflow of economic resources, provided their occurrence is considered probable as a result of unfavourable rulings and administrative penalties against the Group, in or out of court (i.e. Market risk encompasses almost all the Group's trading portfolio, as well as the deposits and repos arranged by trading desks for management. the amount the Group could have to pay if the guarantee is called on). expected loss (>EUR 200 thou.). These policies have been forwarded to the subsidiaries that – within their scope of autonomy and responsibilities – have adapted, applied and developed them, taking into account their applicable specific regulatory field. These guarantees should never be used to substitute a lack of repayment capacity or an uncertain outcome for the operation. Financial guarantees given related to real estate construction and development. Cuentas Anuales Ejercicio 2020 CaixaBank Asset Management. As regards management, controlling and financial analysis of the main investees are performed through specialists exclusively responsible for monitoring changes in economic and financial data and for understanding and issuing alerts in the event of changes in regulations and fluctuations in competition in the countries and sectors in which the investees operate. Historical VaR is also an especially suitable technique since it includes non-linear relationships between the risk factors. EUR 5 million, if porfolio has sig. To build the model, several variables are considered, such as product type, term to maturity and customer characteristics. Este apartado contiene, las cuentas anuales individuales y consolidadas auditadas y los informes de gestión. The documentation contains key definitions, information regarding the process of acquiring samples and data processing, methodological principles and results obtained, as well as the comparison of said results with those of previous years. This allows mitigation through i) decreasing the frequency at which the events occur, as well as their impact; ii) holding a solid structure of sustained control in policies, methodologies, processes and systems and iii) integrating – into the everyday management of the Group – the information provided by operational risk management levers. It is worth noting applications for data processing that are used for preparation of reporting information and risk management. Royal Decree-Law 19/2018, of 23 November, concerning, Royal Decree-Law 19/2017, of 24 November, on. Certainty of its capability to comply with its financing obligations and needs, under adverser market conditions, through stable and diversified financing. The purpose is for these scenarios to be used to detect areas of improvement in the management and to supplement the available external and internal historical data on operational losses. In 2019, the Spanish economy's growth rate has maintained the trend it began in 2018, and continues along a slight reduction (although it remains above the Eurozone's average rate of growth). CAIXABANK. Para una correcta interpretación de las cuentas anuales debe considerarse que la Sociedad desarrolla All the competencies of the Board that can be delegated are delegated thereto. 2019 ; 2018 ; 2017 ; 2016 ; 2015 ; 2014 ; 2013 ; 2012 ; 2011; Información de la actividad del Grupo. . Cuentas Anuales Ejercicio 2020 CaixaBank Asset Management. Disclosure of the types of reinsurance to be contracted and aggregate exposure by type of business. The Group has foreign currency assets and liabilities in its balance sheet as a result of its commercial activity and its shares in foreign currencies, in addition to the foreign currency assets and liabilities deriving from the Group’s measures to mitigate exchange rate risk. 1 Royal Decree 309/2019, of 26 April, which partially enacts Act 5/2019, of 15 March, which governs real estate credit contracts and adopts other financial measures, and Order ECE/482/2019, of 26 April, which amends Order EHA/1718/2010, of 11 June, which governs and controls the advertising of banking services and products, and Order EHA/2899/2011, of 28 October, on the transparency of banking . The following principles and policies support the credit risk management at the Group: The full credit risk management cycle covers the entire life of the transaction, from feasibility studies and the approval of risks as per established criteria, to monitoring solvency and returns and, ultimately, to recovering non-performing assets. Informe anual 2019 Risk Metrics, ensuring that they comply with the risk appetite defined, applicable regulations and stakeholder expectations. Commercial-Management vision: the return from the management of the CaixaBank commercial network. The Group monitors and reports – to the management and governance bodies – a full perspective of accounting positions, segregated by product and issuer/counterparty, classified under loans and advances, debt securities, equity instruments, derivatives and guarantees given, that complement the other positions of the Group and of the secured investment and pension funds. 1 Areas of the Management Committee are identified, as well as other specific fields in particular. Beyond the trading portfolio, fair-value hedge accounting is used, which eliminates potential accounting mismatches between the balance sheet and statement of profit or loss caused by the different treatment of hedged instruments and their hedges at market values. Calculations using advanced models and methodologies, Accounting figures (cost of risk and NPL ratio), Detailed metrics deriving from the factorial decomposition of LEVEL 1 metrics or from a greater breakdown. In the case of large corporations, loss given default also includes elements of expert judgment, coherent with the rating model. Following on from this, the monitoring indicators of its risk appetite have also been improved by the management and governance bodies. In order to establish the recoverable value of these guarantees, for real estate collateral the models estimate the amount of the future sale of the collateral, which is discounted from the total expenses incurred until the moment of the sale. For that purpose, all the aspects considered as relevant for exercising its responsibilities that are implemented by second line of defence functions without hierarchical dependency will be reported to the CRMF. The Portuguese economy has slowed down to a certain extent due to reduced internal demand, in such a way that the growth rate for the whole of 2019 was 1.9%, slightly lower than in 2018 (2.4%). These risk sources are reflected in the behaviour of the financial markets which, after the strong juncture of volatility experienced at the end of 2018, showed new aversion to risk in the summer, when the stock exchanges of the main developed economies fell due to poor financial data and to the worsening of commercial activity between the US and China. The ECB launched a new stimulus package in September 2019, with a 10-bp reduction in the deposit rate (supplemented by a tiering system), new bond purchases (EUR 20 billion a month), lower interest rates for TLTROs (operations offering long-term financing to the financial sector) and it was stated that the stimulus will continue until inflation approaches its target. BuildingCenter is the Group's company responsible for the ownership of property assets in Spain, which basically originate from streamlining of the Group's credit activity through any of the following ways: i) acquisition at auctions held after assets have been foreclosed, mainly in relation to mortgage loans; ii) acquisition of mortgaged real estate assets of individuals, with the subsequent subrogation and cancellation of the debts; and iii) acquisition of real estate assets of companies, mainly real estate developers, to cancel their debts. Información exigida por la OM ECC/2316/2015: Cuentas corrientes. In view of the lack of sufficient frequency of internal default rates for drawing up purely statistical models, the models in this segment were built in line with the Standard & Poor’s methodology, enabling the public global default rates to be used, making the methodology much more reliable. Cuentas Anuales Ejercicio 2018 CaixaBank Asset Management. Legal Information about Caixabank Asset Management SGIIC, S.A.U. Risk is often quantified by marking to market all outstanding transactions (normally on a daily basis). All other classification criteria in Stage 2 or Stage 3 are also revised monthly. (3) In the case of falling-rate scenarios the applied internal methodology enables the interest rates to be negative. Additionally, CaixaBank has completed the establishment – in the Group's interest – of general activity principles and criteria in practically all its activity fields, through the approval of the corresponding corporate policies. Hedging determined through statical models based on the Group's experience and forecasts of relevant variables. The Eurozone's risk context has been marked by geopolitical factors, mainly linked to the difficulties of reaching an agreement for the United Kingdom's withdrawal. Las cuentas anuales consolidadas del Grupo CaixaBank del ejercicio 2019, que se depositarán en el Registro Mercantil de Valencia, han sido formuladas por el Consejo de Administración de CaixaBank, S.A. con fecha 20 de febrero de 2020. FA: Financial assets; FL: Financial liabilities. The regulatory limit established for the NSFR is 100% from June 2021. A decentralised liquidity management system across two units (the CaixaBank subgroup and the BPI subgroup), which includes a segregation of duties to ensure optimal management, control and monitoring of risks. A number of policies that cover different scopes of the Group impact on the control and mitigation of reputational risk. This framework is supplemented by the technical standards approved by the European Commission (ITS), which are directly applicable, and guidelines published by EIOPA, which have been adopted by the Directorate General for Insurance and Pension Funds (DGSFP) as their own. The Corporate Risk Taxonomy is subject to ongoing review, particularly on risks of a material impact. Rental: it is a means of benefiting from rising demand and generating recurring income, as well as creating added value on the property in the event of its future institutional sale. Informe sobre las cuentas anuales Opinión Hemos auditado las cuentas anuales de CaixaBank Asset Management, Sociedad Gestora de Instituciones de Inversión Colectiva, S.A.U. Se encontró adentroEn las últimas décadas, la economía mundial tiende a estructurarse alrededor de cadenas de producción globales, siendo estas responsables de un porcentaje elevado del comercio, la producción y el empleo.

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