Geschäftsbericht 2015, englisch

29 management report oekom research confirmed our rating. This enabled us to retain our “Prime Status”, which means that MünchenerHyp is still one of the banks within the category “Financials/Mortgage & Public Sector Finance” with the best rating for sustainability. At the beginning of February 2016 the rating agency imug up- graded all of its sustainability ratings for MünchenerHyp. The rat- ing for our Public Pfandbriefe improved from “positive“ to “very positive”, our Mortgage Pfandbriefe moved up from “neutral” to “positive” while our uncovered bonds also improved from “neutral” to “positive”. The rating for our Mortgage Pfandbriefe was partic- ularly notable because MünchenerHyp now has the best rating of all the 73 issuers of Mortgage Pfandbriefe rated by imug. MünchenerHyp’s latest sustainability report, as well as additional information on our commitment to sustainability, is available at: www.muenchenerhyp.de/en/company Regulatory Conditions Basel III The implementation of the Internal Ratings Based Approach (IRBA) has been completed for now. At the end of 2015 the last rating system to be examined – retail business Switzerland – was ap- proved by the Federal Financial Supervisory Authority (BaFin). This means that MünchenerHyp is now considerably over the so- called exit threshold and no longer has to compulsory submit any additional rating system for approval to use as part of the IRBA. An expansion is, however, possible if the Bank changes its busi- ness strategy and enters new areas of business. We have been participating in the Basel Committee on Banking Supervision (BCBS) monitoring of Basel III for a number of years. The insights gained have made it possible for us to assess the effects of future binding minimum standards before they are in- troduced and make adjustments as needed. Our voluntary partici­ pation has enabled us to continually monitor all important key figures for a long time and use them to manage the Bank. For example, the Bank has been able to effortlessly meet the require- ments of the steadily rising Liquidity Coverage Ratio (LCR), which has had to be observed since 2015. Furthermore, we have on av- erage fulfilled the Net Stable Funding Ratio (NSFR) requirement, which takes effect in 2018 and thus far has been foreseen to serve as only an observation ratio, without having to take any specific measures. A Leverage Ratio will be introduced within the framework of Basel III as of 2018. Up until now the European Parliament has rejected the Leverage Ratio for European regulatory purposes. The European Banking Authority (EBA) was commissioned with presenting a study of the Leverage Ratio in 2015. However, this did not take place by the end of 2015. We currently anticipate that the study will be published in mid-2016. According to the requirements of Basel III, the maximum leverage ratio is set at 2012 2013 2014 2015/2016 oekom research D C- C C imug Public Pfandbriefe: favourable Mortgage Pfandbriefe: neutral Uncovered bonds: neutral Public Pfandbriefe: very favourable Mortgage Pfandbriefe: neutral Uncovered bonds: neutral Public Pfandbriefe: favourable Mortgage Pfandbriefe: neutral Uncovered bonds: neutral Public Pfandbriefe: very favourable Mortgage Pfandbriefe: favourable Uncovered bonds: favourable Sustainalytics 44 of 100 points 47 of 100 points 47 of 100 points 57 of 100 points The development of our sustainability ratings since 2012 at a glance: 2012201320142015/2016

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