basel iii pillar 3 2017 - mashreq bankunited arab emirates 63.94% insurance & reinsurance fully...

Basel III Pillar 32017

Basel III - Pillar 3 2017

3Basel III - Pillar 3 2017

I. InformationonSubsidiariesandSignificantInvestments

II. ConsolidatedCapitalStructure

III. CapitalAdequacy

A. QualitativeDisclosures

B. QuantitativeDisclosures

IV. QualtitativeDisclosures

V. QuantitativeDisclosures

A. GrossCreditExposuresbyCurrencyType

B. GrossCreditExposuresbyGeography

C. GrossCreditExposuresbyIndustrySegment

D. GrossCreditExposuresbyResidualContractualMaturity

E. ImpairedLoansbyIndustrySegment

F. ImpairedLoansbyGeographicDistribution

G. ReconciliationofChangesinProvisionforImpairedLoans

H. GrossCreditExposureasperStandardisedApproach

VI. GrossCreditExposureasPerStandardisedApproach



VII. CreditRiskMitigation:DisclosuresforStandardisedApproach



VIII. TotalCapitalRequirementforMarketRiskunderStandardisedApproach

IX. EquityPositionintheBankingBook



X. InterestRateRiskintheBankingBook(IRRBB)

CONTENTS

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5

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I. Information on Subsidiaries and Significant Investments

Basis of Consolidation:

ThescopeofconsolidationofPillar IIIdiffersfromthescopeofconsolidationofthefinancialstatements,whichincludesthefullyconsolidatedresultsandbalancesheetofOmanInsuranceCo(OIC),MindscapeFZLLCandInjazServicesFZLLC,asdisclosedintheMashreqGroupAnnualReport.

Information on Subsidiaries and Significant Investments as on 31st December 2017

Country ofIncorporation

%Ownership

Principal ActivityAccounting Treatment

Surplus Capital

CapitalDeficiencies

TotalInterests

Subsidiaries:

Osool–AFinanceCompany(PJSC)UnitedArab

Emirates98.00% Finance

Fullyconsolidated

N.A.

MindscapeFZLLCUnitedArab

Emirates100.00% Software/Applicationprovider

Fullyconsolidated

MashreqSecuritiesLLCUnitedArab

Emirates99.98% Brokerage

Fullyconsolidated

InjazServicesFZLLCUnitedArab

Emirates100.00% Serviceprovider

Fullyconsolidated

MashreqAlIslamiFinanceCompany(PJSC)

UnitedArabEmirates

99.80% IslamicfinancecompanyFully

consolidated

MashreqCapital(DIFC)LimitedUnitedArab

Emirates100.00%

Brokerageandasset&fundmanagement

Fullyconsolidated

MakasebFundsCompanyBSCKingdomof

Bahrain99.90% Fundmanager

Fullyconsolidated

MakasebFundsCompanyBSCIIKingdomof

Bahrain99.90% Fundmanager

Fullyconsolidated

InvictusLimited CaymanIslands 100.00% SpecialPurposevehicleFully

consolidated

Investments:

OmanInsuranceCompany(PSC)Group

UnitedArabEmirates

63.94% Insurance&reinsuranceFully

consolidated- - -


II. Consolidated Capital Structure

Consolidated Capital Structure as on 31st December 2017

Details

Summary Terms & conditions of main

features of all Capital Instruments

(AED’000)

Capital Base

N.A.

20,992,601

1 Common Equity Tier 1 (CET1) Capital 19,809,325

1.1 ShareCapital 1,775,308

1.2 Sharepremiumaccount -

1.3 EligibleReserves 1,213,621

1.4 RetainedEarnings/(-)Loss 16,908,546

1.5 Eligibleamountofnon-controllinginterest 4,881

1.6 Capitalshortfallifany -

1.7 Otheradjustments(e.g.cumulativeeffectofforeigncurrencytranslation) (59,163)

CET1 capital Before the regulatory adjustments and threshold deduction 19,843,193

1.8 Less:Regulatorydeductions 42,334

1.9 Less:Thresholddeductions -

Total CET1 capital after the regulatory adjustments and threshold deduction 19,800,859

Total CET1 capital after transitional arrangement for deductions (CET1) 19,809,325

2 Additional Tier 1 (AT1) Capital (4,233)

2.1 EligibleAT1capital(Aftergrandfathering) -

2.2 OtherAT1Capitale.g.(Sharepremium,minorityinterest) -

Total AT1 capital -

Total AT1 capital after transitional arrangements (AT1) (4,233)

3 Tier 2 (T2) Capital 1,187,509

3.1 Tier2Instrumentse.g.subordinatedloan(Aftergrandfatheringand/oramortization),CCFetc. (184,989)

3.2 OtherTier2capital(includingGeneralProvisions,etc.) 1,376,732

Total T2 Capital 1,191,742

Total T2 capital after transitional arrangements (T2) 1,187,509


III. Capital Adequacy

A. Qualitative Disclosures

Capital Adequacy and Capital Management

TheInternalCapitalAdequacyAssessmentProcess(ICAAP)andtheStressTestingteamwithinRiskManagementGroupisresponsible for calculating theGroup’s capital requirementandmanaging theGroup’s ICAAP.Thisentailsmonitoring theGroup’scapitaladequacyunderavarietyofstressedscenariostoassessandreporttheimpactupontheGroup’scapitalbuffer(measuredasavailablecapitallessriskcapitaldemand)andrecommendingappropriateactions,asrequired.

AspartoftheICAAPprocess,theBankidentifiesdifferentrisktypesbasedonexternalandinternalrisksrelevanttotheBank’sbusinessmodelandstrategy.Basistheimpact,frequencyandlikelihoodofeachoftherisksidentified,thefollowingrisktypeshavebeenidentifiedasmaterial“capital-based”–CreditRisk,OperationalRisk,MarketRisk,includinginvestmentbookrisk,InterestrateriskintheBankingbook(IRRBB),BusinessRiskandFundingCostRisk.

InlinewiththeCentralBankinstructions,theICAAPeconomiccapitalrequirementshavebeenalignedwiththerequirementsunderBaselIII.Hence,projectionsofcapitalhavebeensegregatedintoCET1(CommonEquityTier1)Capital,AdditionalTier1CapitalandTier2Capital.Inassessingthecompliancetoregulatoryrequirement,theBankhasadoptedamaximumof2.5%additionalrequirementfortheCountercyclicalBufferand2.5%forCapitalConservativeBuffer.

Also,aspartoftheICAAPprocess,MashreqBankhasaligneditsIRRBBmethodologywiththenewIRRBBBaselCommitteeStandardpublishedinApril2016forInterestRateRiskinBankingBook.Underthismethodology,theBankhasassessedtheimpactof6scenariosonEconomicValueofEquity(EVE)andtwoscenariosonNetInterestIncome.

IncompliancewithCentralBankrecommendations,theBankhasalsorevisedLossGivenDefault(LGD)parametersbasedonrecentvalidationofLGDmodelsusingexternalspecialistconsultantsalongwithadownturnLGDmodel.MashreqBankisalsousingaframeworkdevelopedbyinternationalexpertstoproduceconditionalIntra/Intersectorscreditcorrelationswhicharereflectiveoftheprevailingmacroeconomicenvironment.Hence,thePillarIICreditriskcapitalchargeinlastICAAPsubmissionwasreflectiveoftheprevailingmarketconditions.

Also,theBank’sRiskAppetitetolerancelevelshavebeenset,basedonacombinationofregulatoryandinternallimitsandratiosgoverningkeyaspectsofliquidity,creditandcapitalmanagement.Allmaterialrisksareassessedinaproactivewaywithin theenterprise risk framework.TheRiskAppetiteAssessment integratesBasel III compliant stress scenarios,whilecomprehensiveriskcapitalmanagementensuresanappropriateriskcapitalallocationatportfolioandtransactionlevel.

Mashreq’s approach to Pillar 1

Risk Type Current Approach

Credit Standardised

Market Standardised

Operational Standardised

Pillar 1 Scope

Credit Risk

MashreqBankusesStandardisedApproachforCreditRisk,coveringallportfoliosincludingFinancialInstitutions,Treasury&CapitalMarketcounterpartyriskaswellcreditriskintheTradingBook.Thisapproachallowstheuseofexternalratingsfromdesignatedcredit-ratingagencies,whereveravailable,indeterminingtheappropriateriskweights.Theriskweightsaredeterminedbytheassetclassandtheexternalratingofthecounterparty.

Market Risk

MashreqBankcalculates itsmarket riskcapital requirementson thebasisof theStandardisedApproach forgeneralandspecificinterestraterisk,foreignexchangeriskandequityrisk.

Operational Risk

AnOperationalRiskFramework(ORM)hasbeenputinplace,includingasophisticatedITsystemtocaptureandreportthelargeamountofdatarequired.TheRiskandControlSelf-Assessment(RCSA)processandrelatedprocessesareembeddedwithinthebusinessunitsacrosstheBank.


Risk Management Objectives and Policies

1. Risk Management Overview

a. Objectives

ThemaingoalsofMashreqBank’sRiskManagementaretooverseetheBank’senterprise-wideriskpoliciesandguidelinesundertheguidanceoftheBoardofDirectorsandtheRiskCommittee,toestablishcreditlimitsanddelegationauthorities,tosetandmanagetherisksurveillancefunctionanddecisionprocessesandtoimplementGroup-wideriskassessmentmethodsforeachoftheBank’sunitsandoperatingentities.

Mashreq Bank has implemented an integrated Risk Management platform enabling Risk to manage the Bank as a singleportfolio.Sophisticatedriskmetricssuchasprobabilityofdefaultandriskchargearecalculatedattransactionandportfoliolevel,enablingtheBanktomanageitsbusinessbaseduponlong-termriskadjustedreturn.InvestmentswhichareaffectedbymarketfluctuationsinForex,InterestRatesandEquityPricesaremanagedviaaValueatRiskmethodologyattransactionandportfoliolevel.

b. Risk Governance

TheGrouphassetupastrongriskmanagementinfrastructuresupportedbyadoptionofbestpracticesinthefieldofriskmanagementtomanageandmonitormaterialrisksarisingoutofitsdaytodayoperations.

MashreqBank’sRiskGovernancemodelisasfollows:• TheRiskCommittee• TheAssets&LiabilitiesCommittee(ALCO)• TheInvestmentCommittee• CreditRiskForum(CRF)

Risk Committee

TheRiskCommitteeisresponsiblefordevelopingGroup-widepolicyframeworksforallrisktypesaswellasmanagingandmonitoringmaterialcredit,marketandoperationalrisksforthedifferentactivitieswithinMashreqBank.ItalsosetstheRiskAppetitefortheBankandguidesRiskmanagementonPortfolioactionsandstrategy.

ALCO Committee

TheALCOCommitteeisresponsibleformonitoringtheBank’sliquidity,assetliabilitymismatch,interestrateriskandrelatedparameters.

Investment Committee

The Investment Committee monitors the credit and investment quality of the Bank’s various investment portfolios andrecommendsportfolioadjustmentsasrequired.

Credit Risk Forum

ACreditRiskForum,comprisingofChiefRiskOfficer(CRO),HeadofWholesaleRisk,CreditManagers,SpecialAssetsManagersandHeadofLegal,reviewanddiscusscreditsoveracertainthresholdaswellasissuesrelatedtopolicychangesandriskarchitecture.ThesearesubsequentlyapprovedviatheRiskCommittee.


c. Risk Management Framework

TheBoardofDirectors(BOD)hasoverallresponsibilityfortheestablishmentandoversightoftheGroup’sriskmanagementframeworkandtheyareassistedbyvariouscommitteesincludingtheRiskCommittee,AssetsandLiabilitiesCommittee(ALCO)andInvestmentCommitteeetc.,whoworkunderthemandateoftheBOD. ThesecommitteesapproveriskmanagementpoliciesoftheBankdevelopedbytheRiskManagementGroup.

TheAudit,FraudandComplianceGroup(AFCG)isindependentofRiskManagement.AuditprovidesindependentassurancetostakeholdersandseniormanagementoncompliancewithallcreditpoliciesandproceduresintheBankandtheeffectivenessofcreditmanagementprocesses.Thisisundertakenbyaperiodicreviewofallrisk-takingunits,inadditiontoRiskManagement.AFCGreportsdirectlytotheCEO.

d. Risk Architecture & Analytics

MashreqhasrobustmetricsinplacefordeterminingProbabilityofDefault(PD),LossGivenDefault(LGD),andExposureatDefault (EAD)variables.RiskArchitecture&AnalyticsUnitwithinRiskManagementGroup is responsible forperiodicallyvalidating various risk rating models including recalibration of PD, LGD and EAD parameters for ICAAP as well as StressTesting,inlinewithBaselIIIguidelines.

Aspartofitsanalysisofportfoliopressurepoints,theGroupcarriesoutperiodicstresstestingtoitsentireportfolioandtakesappropriateactionto(i)mitigaterisksarisingoutofspecificobligorsorindustriesand/orduetoglobalriskeventsandtheirimplicationsontheGroup’sclientbase,and(ii)determineportfoliodirectionandresourceallocationaccordingly.

Differentcreditunderwritingproceduresarefollowedforcommercialandinstitutionallending,andretaillending,asdescribedbelow.

2. Credit Risk Management

Creditriskisactivelymanagedandmonitoredinaccordancewithdefinedcreditpoliciesandprocedures.Thecreditworthinessofeachcounterpartyisevaluatedandappropriatecreditlimitsareestablishedthroughadoptionofprudentcreditstructuresrelevanttothecreditrisk.EachcorporateperformingborrowerisassignedaninternalratingbetweenMRS1toMRS25andnon-performingborrowersareassignedratingsofsubstandard,doubtfulandloss.

AllcreditpoliciesarereviewedandapprovedbytheGroup’sRiskCommittee.Thepoliciesarereviewedregularlytoreflectchangesinmarketconditionsorregulatoryrequirements.

CreditRiskManagementincludestheSpecialAssetsManagementGroupwhichmanagescreditsthatareratedaswatchlistandworse.SpecialAssetsManagementGroupwasestablishedtohaveamorefocusedviewonallremedialaccountsand,onapro-activebasis,identifyandtaketimelyactionsonpotentialweakcreditsandalsoperformrecoveryfunction.

Retail credit risk is managed on a product basis. Evaluation of a customer’s creditworthiness is determined on the basisofstatisticallyvalidatedscoringmodelsandpoliciesandthereafterperiodicanddetailedcreditreviewsareperformedtomonitorandtrackportfolioperformance.

Differentauthoritylevelsarespecifiedforapprovingprogramsandexceptionsthereto,andindividualloansandcreditsundereachprogram.Eachprogramcontainsdetailedcreditcriteria(suchascustomerdemographicsandincomeeligibility)andregulatory,complianceanddocumentationrequirements,aswellasotheroperatingrequirements.

All Basel related metrics are generated by a stand-alone IT system independently controlled by the Risk Architecture &AnalyticsUnit.ThisUnithasbeeninvolvedinaprojecttointegrateitsRiskManagementITrequirementstoprovideaseamlessdatasolutionfromtransactionoriginationthroughtoweb-basedportfolioreportingandtoconsolidatealldataontoasingleplatform.

RetailcustomerdatausedinBaselIIIanalyticsaregeneratedfromBank’scoreBankingsystemandSAS.


3. Market & Related Risks Management

MarketRiskistheriskthatfairvalueorcashflowsoffinancialinstrumentsandrelatedincomemaybeadverselyaffectedbymovementinmarketfactorssuchasinterestrates,creditspreads,foreignexchangerates,andequityandcommodityprices.

MarketRiskisgovernedbyacomprehensivecontrolframeworkasdefinedbyanapprovedMarketRiskPolicy.

TheBankusesValueatRisk(VaR)methodologyasitscoreanalyticaltooltoassessrisksacrossproprietarytradingdesks.VaRisanestimateofthepotentiallossesarisinginaportfoliooveraspecifiedtimehorizonduetoadversechangesinunderlyingmarketfactors.TheBankcalculatesitsone-dayVaRata99%confidenceintervalusingMonteCarlosimulationsapproachacrossitstradingportfolio.ValueatRiskframeworkissupplementedbyotherlimitsandsensitivitytriggers.

Stresstestingisconductedbygeneratingextreme,butplausiblescenarios,suchassignificantmovementsininterestrates,creditspreads,etc.andanalysingtheireffectontheGroup’stradingpositions.

a. Liquidity Risk

LiquidityRisk is the risk that theGroup’sentities invarious locationsand invariouscurrencieswillbeunable tomeetafinancialcommitmenttoacustomer,creditor,orinvestorwhendue.

TheAssetsandLiabilitiesCommittee(ALCO)hasabroadrangeofauthoritydelegatedbytheBoardofDirectorstomanagetheGroup’sassetandliabilitystructureandfundingstrategy.ALCOmeetsonamonthlybasisormoreoftenascircumstancesdictate to review liquidity ratios,assetand liabilitystructure, interest rateand foreignexchangeexposures, internalandstatutoryratiorequirements,fundinggapsandgeneraldomesticandinternationaleconomicandfinancialmarketconditions.

Thefundingcenterisresponsibleformanagingliquidityanditfollowsstrictguidelinesfordeploymentofliquidassetswithineachliquiditybucket.

ALiquidityContingencyFundingPlanhasbeenformulatedwithintheICAAPframework.

MajoremphasishasbeenplacedonaddressingtheliquidityrequirementsformulatedwithintheBaselIIIframework-theLiquidityCoverageRatio(LCR)andtheNetStableFundingRatio(NSFR)

AspartoftheICAAPaLiquidityRiskToleranceStatementhasbeendeveloped,which,togetherwiththeBank’sRiskAppetite&RiskCapacityStatement,provideasoundfoundationforStrategicPlanning&ManagementReporting.

b. Interest Rate Risk (IRR)

PillarIcoversIRRintheTradingBookandtreatsitasmarketriskconfinedprimarilytotheTreasuryandCapitalMarket(TCM)tradingbook.PillarIIcoversthebroaderissueofIRRintheBankingBookwhichisanenterpriserisk.

c. Equity Risk in the Banking Book

EquityRiskintheBankingBookarisesfromthepossibilitythatchangesinequity&indicesmarketpricescanadverselyaffectthevalueofstocksandsecuritiesheldbytheBank.

d. Property & Investment Risk

ThisriskappliestopropertiesownedbytheBankandlong-terminvestmentsinsubsidiaries,associatesandotherinvestments.TheriskattachedtovolatilityinallotherinvestmentsiscapturedunderMarketRisk.

TheBankisnotexposedtomaterialpropertyorinvestmentrisksinceitsmaterialpropertiesandinvestmentsareeithernotintendedfordisposalorheldtomaturity.

e. Currency Risk

Currencyriskrepresentstheriskofchangeinthevalueoffinancialinstrumentsduetochangesinforeignexchangerates.TheexchangerateoftheAEDagainsttheUSDhasbeenpeggedsinceNovember1980andtheGroup’sexposuretocurrencyriskislimitedtothatextent.ThemajorityoftheBank’sspotpositionsareUSDdenominated;anyothermaterialspotpositionsaredenominatedinGCCcurrencieswhicharealsopeggedtotheUS.TheBankperformsshorttermpartialhedgesonitsUSDpositionsandcarriessomeUSDpositionriskgiventhefixedparity.


4. Management & Governance of Operational Risk

Operationalriskisriskoflossresultingfrominadequateorfailedinternalprocesses,systems,andpeopleorfromexternalevents.Mashreq’sOperationalRiskpolicyoutlinestheapproachandgovernancestructureformonitoringandmanagingofoperationalrisk.

WhilsttheBankcannoteliminatealloperationalrisks,ithasdevelopedacomprehensiveframeworkofidentifying,assessing,controlling,mitigating,monitoringandreportingOperationalrisk

Operationalriskmanagementfollowsthreelinesofdefensemodel;• Business units form the first line of defence. They own the risk and have direct responsibility managing

operationalriskintheirrespectiveareas.• GroupOperationalriskteamisthesecondlineofdefencewhichprovidespolicy,toolsand infrastructureto

assistbusinessunitsinmanagingtheirrisks• InternalAuditisthethirdlineofdefencewhichprovidesindependentassuranceontheeffectivenessoftherisk

managementprocess

Regulatorycapitalrequirementforoperationalriskcapitaliscalculatedannually.

5. Other risks

a. Regulatory Risk

Regulatory risk primarily emanates from changes in Banking laws and regulations which impact the Banking business inspecificmarket,oronotherhandwhereBankendsupofferingproductsorapplyinginternalprocedures/processeswhicharenotinlinewiththerespectiveregulatoryrequirements,thusresultinginsignificantregulatoryactionagainsttheBank,whichmayincludewithdrawaloflicenseorrestrictiontoconductcertainbusiness.

b. Legal Risk

Legalriskismanagedthroughstrictcorporategovernance,reporting,legalandcomplianceguidelines,aswellasoperationalriskidentificationandcontrol.TheBankhasinrecentyearscompletedanextensivereviewofloanandsecuritydocumentationtomitigatelegalriskandensurestandardizationofdocumentationinaccordancewithbestpracticeandlegalpolicyguidelines.

c. Reputation Risk

ReputationriskistheriskoflossduetothedeteriorationofMashreqBank’sreputation.ThisriskismanagedthroughstrongcorporategovernanceandcompliancerulesandstringentinternalcontrolswithintheGroup.


Capital Adequacy as on 31st December 2017

(AED’000)

Capital Requirements RWA Capital Charge Capital Ratio (%)*

1 CreditRisk-StandardizedApproach 110,138,527 11,564,545 10.50%

2 MarketRisk-StandardizedApproach 1,744,305 183,152 10.50%

3 OperationalRisk 10,428,732 1,095,017 10.50%

a. Basic Indicator Approach - - -

b. Standardised Approach/ASA 10,428,732 1,095,017 10.50%

c. Advanced Measurement Approach - - -

Total Capital requirements 122,311,564 12,842,714 10.50%

Capital Ratio

a. Total for Top consolidated Group 17.16%

b. Tier 1 ratio only for top consolidated Group 16.19%

c. CET1 ratio only for top consolidated Group 16.20%

d. Total for each significant bank subsidiary -

*Inadditiontominimumcapitalrequirementof10.5%,bankswerealsorequiredtomaintainaCapitalConservationbufferof1.25%fortheyear2017,

andMashreqissufficientlyincompliancewiththecapitalrequirements.

B. Quantitative Disclosures

IV. Qualtitative Disclosures

Past Due Loans and Securities

Forrecognitionofpastdueloansandsecuritiesasnon-performing,theBankusesthesamemethodologyemployedbyBaselguidelines:

• Theloan,infullorinpart,ispastdueby90daysormore.Pastdueincludesfailuretoservicetheinterest.• TheBankdeemsthatthereisreasonabledoubtthattheloanwillberecoveredinfull,orinpart,orthattheclient willbeabletoservicethedebt,withoutrecoursetocollateral.

Theunsecuredportionofanyloan(otherthanaqualifyingresidentialmortgageloan)thatispastdueformorethan90days,netofspecificprovisions(includingpartialcharge-offs),isriskweightedasfollows:

• 150%riskweightwhenspecificprovisionsarelessthan20%oftheoutstandingamountoftheloan;• 100%riskweightwhenspecificprovisionsare20%andaboveoftheoutstandingamountoftheloan.

Past Due, but not Impaired, Loans and Securities

Past due but not impaired loans and other financial assets are those loans and other financial assets where contractualinterestorprincipalpaymentsarepastdue.Veryoftentheseoverduesareonlyforafewdaysanddonotreflectfundamentalweaknesses.OntheseclassesofassetstheGroupbelievesthatspecificimpairmentisnotappropriateatthecurrentconditiononthebasisofthelevelofsecurityorcollateralavailableand/orthestageofcollectionofamountsowedtotheGroup.

Impairment / Provisions

TheGroupestablishesanallowanceforimpairmentlossesthatrepresentsitsestimateofincurredlossesinitsloanportfolio.Themaincomponentsofthisallowanceareaspecificlosscomponentthatrelatestoindividuallysignificantexposures,andacollectiveimpairmentallowanceestablishedforthestatisticalpossibilitythatsomeoftheseloanmaygetimpairedinfuture.

TheGroupalsocomplieswithInternationalAccountingStandards39(IAS39)inaccordancewithwhichitassessestheneedforanyimpairmentlossesonitsloansportfoliobycalculatingthenetpresentvalueusingtheoriginaleffectiveinterestrateoftheexpectedfuturecashflowsforeachloanoritsrecoverabilitybasedoneithercollateralvalueorthemarketvalueoftheassetwheresuchpriceisavailable.


Specific Provisioning

Impairment of financial assets

Financialassets,otherthanthoseatFairValuethroughProfit&Loss(FVTPL),areassessedforindicatorsofimpairmentateachbalancesheetdate.Financialassetsareimpairedwherethereisobjectiveevidencethat,asaresultofoneormoreeventsthatoccurredaftertheinitialrecognitionofthefinancialasset,theestimatedfuturecashflowsoftheinvestmenthavebeenimpacted.Forfinancialassetscarriedatamortizedcost,theamountoftheimpairmentisthedifferencebetweentheasset’scarryingamountandthepresentvalueofestimatedfuturecashflows,discountedattheoriginaleffectiveinterestrate.

Thecarryingamountofthefinancialassetisreducedbytheimpairmentlossdirectlyforallfinancialassetswiththeexceptionofloansandadvanceswherethecarryingamountisreducedthroughtheuseofanallowanceaccount.Subsequentrecoveriesof amounts previously charged off are credited against the allowance account. Changes in the carrying amount of theallowanceaccountarerecognizedinprofitorloss.Ifinasubsequentperiod,theamountoftheimpairmentlossdecreasesandthedecreasecanberelatedobjectivelytoaneventoccurringaftertheimpairmentwasrecognized,thepreviouslyrecognizedimpairmentlossisreversedthroughprofitorlosstotheextentthatthecarryingamountoftheinvestmentatthedatetheimpairmentisreverseddoesnotexceedwhattheamortizedcostwouldhavebeenhadtheimpairmentnotbeenrecognized.

InrespectofFairValuethroughOtherComprehensiveIncome(FVTOCI)equitysecurities,anyincreaseinfairvaluesubsequenttoanimpairmentlossisrecognizeddirectlyinequity.

Impairment of loans and advances

Impairmentofloansandadvancesareassessedasfollows:

(i) Individually assessed loans

TheserepresentmainlycorporateloanswhichareassessedindividuallybytheBank’sCreditRiskUnitinordertodeterminewhetherthereexistsanyobjectiveevidencethataloanisimpaired.

Impairedloansaremeasuredbasedonthepresentvalueofexpectedfuturecashflowsdiscountedattheloan’seffectiveinterestrateorattheloan’sobservablemarketprice,ifavailable,oratthefairvalueofthecollateraliftherecoveryisentirelycollateraldependent.

The impairment loss iscalculatedasthedifferencebetweentheloan’scarryingvalueanditspresentvaluecalculatedasabove.

Forwholesaleloansprovisionsaremadeasperthefollowingthresholds: Sub-standard 25% Doubtful 50% Loss 100%

(ii) Collectively assessed loans

Impairmentlossesofcollectivelyassessedloansincludetheallowanceson:a) Performingcommercialandotherloansb) Retailloanswithcommonfeatureswhichareratedonaportfoliobasisandhereindividualloanamounts arenotsignificant.


(a) Performing commercial and other loans

Whereindividuallyassessedloansareevaluatedandnoevidenceoflossispresentorhasbeenidentified,theremaybelossesbaseduponriskratingandexpectedmigrations,productorindustrycharacteristics.

Impairmentcoverslosseswhichmayarisefromindividualperformingloansthatareimpairedatthebalancesheetdatebutwerenotspecificallyidentifiedassuchuntilsometimeinthefuture.

Theestimatedimpairment iscalculatedbytheGroup’smanagementforeachidentifiedportfolioaspertherequirementsoftheCentralBankoftheUAEandbasedonhistoricalexperience,creditratingandexpectedmigrationsinadditiontotheassessedinherentlosseswhicharereflectedbytheeconomicandcreditconditions.

RetailloansareprovidedonDaysPastDue(DPD)basis

90DPD:25%120DPD:50%180DPD:100%

Write -off Policy

Wholesale

TheGroupwritesoffaloanorotherfinancialasset(andanyrelatedallowancesforimpairmentlosses)theloansorotherfinancialassetsareuncollectible inwholeor inpart.Thisdetermination is reachedafterconsidering informationsuchastheoccurrenceofsignificantchangesintheborrowerorissuer’sfinancialpositionsuchthattheborrowerorissuercannolongerpayitsobligationinfull,orthatproceedsfromcollateralwillnotbesufficienttopaybacktheentireexposure.ForsmallerbalanceStandardisedloans,chargeoffdecisionsgenerallyarebasedonaproductspecificpastduestatus.Assetsarewritten-offagainstprovisionsuptotheextentofamountconsideredun-collectible.However,theGroupmaycontinuewithitsrecoveryeffortincludinglitigation,onwrittenoffaccounts.

Retail

Forallretail(includingretailSMEloans),write-offsaregenerallyallowedonlyafterthreeyearsfromthedateofwhichtheassethasbeenclassifiedas“Loss”orhasbeenchargedoff.

Allretailloansarechargedoffwheninstallmentsarepastdueover181days(creditcardsat180DPD).ForMortgageloans,provisionsarereportedasbelow:

• Loanswheretheunderconstructionpropertyisdefinedasabandoned,theprincipaloutstandingisfullyprovided.• LoanswheretheunderconstructionpropertyisdefinedasHighRisk,theprincipaloutstandingisfullyprovided

at180DPD.Furtherforsuchloansthatare<180DPDandifthepropertyisatunderconstructionstagefor>5yearsfromdateofbooking,thepropertyvalueisfurtherstressedby10%(inadditionto30%asrequiredbyCentralBank)&provisionsarereportedontheamountofexcessoftheloanamountoverthestressedvalueoftheproperty.

• Forallcompletedpropertiesthathavecompleted180DPDandthetitledeedisnotavailable,provisionsarereportedonthefullprincipaloutstanding.

• AllothermortgageloansareprovisionedaspercentralBankregulationsbasedonthenegativeequitycomponent.

Partial adoption of foundation IRB/advanced IRB:

Approach Description of exposures Plans and timing of migration to implement fullyhigher approach

StandardisedApproach AllCreditExposures PDandLGDIRBModelsarebuiltandbeingusedwithintheBank.However,theBankisplanningtoapproachCBUAEforadoptionofadvancedIRBbymid-2019.

FoundationIRB - -

AdvancedIRB AllCreditExposures PDandLGDIRBModelsarebuiltandbeingusedwithintheBank.However,theBankisplanningtoapproachCBUAEforadoptionofadvancedIRBbymid-2019.


V. Quantitative Disclosures

A. Gross Credit Exposures by Currency Type

B. Gross Credit Exposures by Geography

Gross Credit Exposures by Currency Type as on 31st December 2017

(AED’000)

CurrencyLoans & Islamic

FinancingInvestments Others Total Funded Commitments

OTCDerivatives

Other Off- Balance Sheet exposures*

TotalNon-Funded

Total

ForeignCurrency

21,878,708 11,662,265 33,614,270 67,155,243 1,106,912 730,399 33,143,910 34,981,221 102,136,464

AED 45,811,003 557,728 12,728,962 59,097,693 5,010,497 139,073 16,405,043 21,554,613 80,652,306

TOTAL 67,689,711 12,219,993 46,343,232 126,252,936 6,117,409 869,472 49,548,953 56,535,834 182,788,770

*Excludes unutilized uncommitted amount of AED 73.6 bn

Gross Credit Exposures by Geography as on 31st December 2017

(AED’000)

GeographicDistribution

Loans & Islamic

Financing

Investments

Others Total

Funded

Commitments OTC

Derivatives

Other Off-Balance Sheet

exposures*

TotalNon-

Funded Total

UnitedArabEmirates 53,876,772 3,110,372 18,481,407 75,468,551 5,389,207 370,999 31,760,639 37,520,845 112,989,396

GCCexcludingUAE 8,221,912 3,241,585 3,674,055 15,137,552 510,924 54,764 7,438,446 8,004,134 23,141,686

ArabLeague(excludingGCC)

2,340,019 2,021,257 2,096,135 6,457,411 188,534 780 1,848,913 2,038,227 8,495,638

Asia 1,797,019 917,530 6,866,831 9,581,380 28,744 32,488 3,467,957 3,529,189 13,110,569

Africa 270,310 42,452 1,924,605 2,237,367 - - 10,740 10,740 2,248,107

NorthAmerica 13,548 1,800,154 4,614,004 6,427,706 - 90,973 901 91,874 6,519,580

SouthAmerica - 30,463 - 30,463 - - 653 653 31,116

Caribbean 166,165 - 1,074,776 1,240,941 - - - - 1,240,941

Europe 126,167 371,435 4,072,217 4,569,819 - 319,468 2,207,384 2,526,852 7,096,671

Australia - - 23,837 23,837 - - - - 23,837

Others 877,799 684,745 3,515,365 5,077,909 - - 2,813,320 2,813,320 7,891,229

Total 67,689,711 12,219,993 46,343,232 126,252,936 6,117,409 869,472 49,548,953 56,535,834 182,788,770



C. Gross Credit Exposures by Industry Segment

D. Gross Credit Exposures by Residual Contractual Maturity

Gross Credit Exposures by Industry Segment as on 31st December 2017

(AED’000)

Industry Segment Loans & Islamic

Financing Investments Others

Total Funded

Commitments OTC

Derivatives

Other Off- Balance Sheet

exposures*

TotalNon-

Funded Total

Agriculture,Fishing&relatedactivities

64,214 - 297 64,511 - 82 14,790 14,872 79,383

CrudeOil,Gas,Mining&Quarrying

133,204 89,654 - 222,858 - - 131,867 131,867 354,725

Manufacturing 3,731,217 41,913 285,885 4,059,015 22,110 3,015 2,370,432 2,395,557 6,454,572

Electricity&Water - 278,230 7,903 286,133 - - 91,825 91,825 377,958

Construction 8,987,353 183,228 514,914 9,685,495 4,171,888 - 17,263,417 21,435,305 31,120,800

Trade 8,355,308 1,806 5,969,307 14,326,421 30,410 365,935 4,788,313 5,184,658 19,511,079

Transport,Storage&Communication

2,414,852 384,409 31,619 2,830,880 154,074 - 777,229 931,303 3,762,183

FinancialInstitutions 1,984,911 2,900,484 33,730,675 38,616,070 - 489,492 11,234,932 11,724,424 50,340,494

Services 12,020,812 47,745 429,773 12,498,330 1,511,056 6,566 8,357,815 9,875,437 22,373,767

Government 9,344,345 8,029,892 4,228,613 21,602,850 - - 3,306,295 3,306,295 24,909,145

Retail/Consumerbanking

19,236,525 - 29,358 19,265,883 29,338 1,115 411,260 441,713 19,707,596

AllOthers 1,416,970 262,632 1,114,888 2,794,490 198,533 3,267 800,778 1,002,578 3,797,068

Total 67,689,711 12,219,993 46,343,232 126,252,936 6,117,409 869,472 49,548,953 56,535,834 182,788,770


Gross Credit Exposures by Residual Contractual Maturity as on 31st December 2017

(AED’000)

ResidualContractual Maturity

Loans & Islamic

Financing Investments Others

Total Funded

Commitments OTC

Derivatives

Other Off- Balance Sheet

exposures*

TotalNon-

Funded Total

Nospecifiedmaturity

3,182,677 411,563 1,174,157 4,768,397 - - 646,849 646,849 5,415,246

Lessthan3months

15,841,715 1,745,392 29,775,833 47,362,940 1,897,493 292,613 15,583,396 17,773,502 65,136,442

3monthstooneyear

7,349,929 1,774,919 11,890,058 21,014,906 548,646 151,649 6,275,932 6,976,227 27,991,133

Onetofiveyears 17,224,303 4,428,603 727,535 22,380,441 939,168 136,094 11,724,140 12,799,402 35,179,843

Overfiveyears 24,091,087 3,859,516 2,775,649 30,726,252 2,732,102 289,116 15,318,636 18,339,854 49,066,106

Grand Total 67,689,711 12,219,993 46,343,232 126,252,936 6,117,409 869,472 49,548,953 56,535,834 182,788,770



E. Impaired Loans by Industry Segment

F. Impaired Loans by Geographic Distribution

Impaired Loans by Industry Segment as on 31st December 2017

(AED’000)

Industry Segment

Overdue ProvisionsImpairedAssets**Less than 90

days90 days and

aboveTotal Specific General*

Agriculture,Fishing&relatedactivities

N.A.

- - - - -

CrudeOil,Gas,Mining&Quarrying - - - - -

Manufacturing 579,310 579,310 301,420 6,815 271,075

Electricity&Water - - - - -

Construction 47,509 47,509 28,569 1,631 17,309

Trade 205,596 205,596 119,882 2,428 83,286

Transport,Storage&Communication 58,620 58,620 12,965 827 44,828

FinancialInstitutions - - - - -

Services 120,038 120,038 52,021 1,542 66,475

Government 122,627 122,627 50,000 - 72,627

Retail/Consumerbanking 1,092,662 1,092,662 500,850 6,617 585,195

AllOthers - - - - -

Total 2,226,362 2,226,362 1,065,707 19,860 1,140,795

*General Provision is calculated as 1.5% of CRWA **Impaired Assets = Overdue - Provisions

Impaired Loans by Geographic Distribution as on 31st December 2017

(AED’000)

Geographic Distribution

Overdue Provisions

Impaired Assets**Less than 90 days

90 days and above Total Specific General*

UnitedArabEmirates

N.A.

1,268,818 1,268,818 629,278 12,386 627,154

GCCexcludingUAE 740,931 740,931 329,162 4,162 407,607

ArabLeague(excludingGCC) 91,816 91,816 107,110 563 (15,857)

Asia - - - - -

Africa - - - - -

NorthAmerica - - - - -

SouthAmerica - - - - -

Caribbean 124,618 124,618 - 2,748 121,870

Europe 179 179 157 1 21

Australia - - - - -

Others - - - - -

Total 2,226,362 2,226,362 1,065,707 19,860 1,140,795

*General Provision is calculated as 1.5% of CRWA **Impaired Assets = Overdue - Provisions

G. Reconciliation of Changes in Provision for Impaired Loans

PleaserefertoNote 8 (d)and9 (d)totheconsolidatedfinancialstatementsfortheyearended31stDecember2017under‘Loansandadvancesmeasuredatamortisedcost’and ‘Islamicfinancingand investmentproductsmeasuredatamortisedcost’forthemovementoftheallowanceinimpairment.


H. Gross Credit Exposure as per Standardised Approach

Gross Credit Exposure as per Standardised Approach as on 31st December 2017

(AED’000)

Asset Classes

Gross Outstanding Credit Risk Mitigation (CRM) Net Exposure after CCF &

CRM

RiskWeighted

Assets On Balance

Sheet Off Balance

Sheet* Total

Exposure Before CRM

CRM

ClaimsonSovereigns 22,850,707 - 22,850,707 22,850,707 - 22,850,707 2,574,628

ClaimsonNon-CommercialPublicSectorEnterprises(PSEs)

207,359 - 207,359 207,359 - 207,359 -

ClaimsonMultiLateralDevelopmentBanks

- - - - - - -

ClaimsonBanks 20,754,965 11,688,601 32,443,566 32,443,566 621,829 26,712,585 15,410,327

ClaimsonSecuritiesFirms - - - - - - -

ClaimsonCorporatesAndGovernmentRelatedEnterprises(GREs)

45,429,030 103,524,830 148,953,860 148,664,113 7,801,729 65,612,796 57,685,471

ClaimsincludedintheRegulatoryRetailPortfolio

10,378,925 6,059,519 16,438,444 16,438,444 - 10,378,925 8,487,706

ClaimssecuredbyResidentialProperty

6,650,800 29,338 6,680,138 6,680,138 - 6,665,469 3,314,534

ClaimssecuredbyCommercialRealEstate

11,100,809 5,844,739 16,945,548 16,945,548 164,761 14,281,326 14,121,592

PastDueLoans 2,343,870 39,087 2,382,957 1,197,779 29,627 1,197,779 1,323,973

HighRiskCategories 129,686 - 129,686 66,028 - 66,028 99,042

OtherAssets 6,406,785 - 6,406,785 6,406,785 - 6,406,785 6,662,129

ClaimsonSecuritisedAssets - - - - - - -

CreditDerivatives(BanksSellingProtection)

- 2,975,130 2,975,130 2,975,130 - 2,975,130 459,125

Total 126,252,936 130,161,244 256,414,180 254,875,597 8,617,946 157,354,889 110,138,527

*Includes unutilized uncommitted amount of AED 73.6 bn


VI. Gross Credit Exposure as Per Standardised Approach


InlinewithBasel&CBUAEGuidelines,Mashrequsesratingsfromthreereputedratingagenciesforfinalizingtheriskweightsfor itsassets.Asper theguidelines“If thereare threeormoreassessmentswithdifferent riskweights, theassessmentscorrespondingtothetwolowestriskweightsshouldbereferredtoandthehigherofthosetworiskweightswillbeapplied”.HenceMashreqconsidersthesecondworstratingofthethreeratings,asthefinalrating.


Gross Credit Exposure as per Standardised Approach as on 31st December 2017

(AED’000)

Gross Credit Exposure Net Exposureafter

CCF & CRM

RiskWeighted

Assets

Exposures Subject to Deduction

Asset Classes Rated Unrated Total* Rated Unrated TotalPost CRM

RWA Post CRM

ClaimsonSovereigns 22,758,882 91,825 22,850,707 22,850,707 2,574,628

N.A.

ClaimsonNon-CommercialPublicSectorEnterprises(PSEs)

207,359 - 207,359 207,359 -

ClaimsonMultiLateralDevelopmentBanks

- - - - -

ClaimsonBanks 24,028,856 8,414,710 32,443,566 26,712,585 15,410,327

ClaimsonSecuritiesFirms - - - - -

ClaimsonCorporatesAndGovernmentRelatedEnterprises(GREs)

6,133,280 142,820,580 148,953,860 65,612,796 57,685,471

ClaimsincludedintheRegulatoryRetailPortfolio

- 16,438,444 16,438,444 10,378,925 8,487,706

ClaimssecuredbyResidentialProperty

- 6,680,138 6,680,138 6,665,469 3,314,534

ClaimssecuredbyCommercialRealEstate

992,152 15,953,396 16,945,548 14,281,326 14,121,592

PastDueLoans - 2,382,957 2,382,957 1,197,779 1,323,973

HighRiskCategories - 129,686 129,686 66,028 99,042

OtherAssets 2,259,601 4,147,184 6,406,785 6,406,785 6,662,129

ClaimsonSecuritisedAssets - - - - -

CreditDerivatives(BanksSellingProtection)

2,975,130 - 2,975,130 2,975,130 459,125

Total 59,355,260 197,058,920 256,414,180 157,354,889 110,138,527

*Includes unutilized uncommitted amount of AED 73.6 bn


VII. Credit Risk Mitigation: Disclosures for Standardised Approach


Policies and processes for, and an indication of the extent to which the Bank makes use of, on - and off - balancesheet netting:

NotApplicable

Policies and processes for collateral valuation and management:

Bank’sCollateralManagementPolicydocumentincludesminimumstandardsonsecurityandcreditriskmitigationacrossarangeofproductsofferedbytheBank,bothintermsofriskmanagementandcomputationofregulatorycapitalasperBaselguidelines.

Mashreqregularlyagreeoncollateraltobereceivedfromortobeprovidedtocustomersincontractsthataresubjecttocreditrisk.Collateralissecurityintheformofanassetorthird-partyobligationthatservestomitigatetheinherentriskofcreditlossinanexposure,byeithersubstitutingtheborrowerdefaultriskorimprovingrecoveriesintheeventofadefault.Whilecollateralcanbeanalternativesourceofrepayment,itgenerallydoesnotreplacethenecessityofhighqualityunderwritingstandards.

Wesegregatecollateralreceivedintothefollowingtwotypes:Financialandnon-financialcollateral,whichenablesustorecoverallorpartoftheoutstandingexposurebyliquidatingthecollateralassetprovided,incaseswheretheborrowerisunableorunwillingtofulfilitsprimaryobligations.Cashcollateral,securities(equity,bonds),collateralassignmentsofotherclaimsorinventory,equipment(i.e.,plant,machineryandaircraft)andrealestatetypicallyfallintothiscategory.

Guaranteecollateral,whichcomplementstheborrower’sabilitytofulfilitsobligationunderthelegalcontractandassuchisprovidedbythirdparties.Lettersofcredit,insurancecontracts,exportcreditinsurance,guaranteesandriskparticipationstypicallyfallintothiscategory.

Ourprocessesseektoensurethatthecollateralweacceptforriskmitigationpurposesisofhighquality.Thisincludesseekingtohaveinplacelegallyeffectiveandenforceabledocumentationforrealizableandmeasureablecollateralassetswhichareevaluatedregularlybydedicatedteams.Theassessmentofthesuitabilityofcollateralforaspecifictransactionispartofthecreditdecisionandmustbeundertakeninaconservativeway,includingcollateralhaircutsthatareapplied.Wehavecollateraltypespecifichaircutsinplacewhichareregularlyreviewedandapproved.

Asofnow,forCapitalAdequacycomputation,Mashreqdeploys‘simpleapproach’toCreditRiskMitigation(CRM)technique,onsecuredportfolios,collateralizedwithcash&cashequivalentunderlyingonly.


Credit Risk Mitigation: Disclosures for Standardised Approach as on 31st December 2017

(AED’000)

Quantitative Disclosures Exposures Risk Weighted Assets

Gross Exposure prior to Credit Risk Mitigation 254,875,597 118,367,236

Less: Exposurecoveredbyon-balancesheetnetting - -

Less: ExposurescoveredbyEligibleFinancialCollateral* 8,061,893 8,061,893

Less: ExposurescoveredbyGuarantees** 556,053 166,816

Less: ExposurescoveredbyCreditDerivatives - -

Net Exposures after Credit Risk Mitigation 246,257,651 110,138,527

*This is effectively amount of Cash Collateral used as mitigant post currency haircut**This is effective utilization of the financial guarantee which is translated into reduction in Risk Weight through Simple CRM approach


VIII. Total Capital Requirement for Market Risk under Standardised Approach

Total Capital Requirement for Market Risk under StandardisedApproach as on 31st December 2017

(AED‘000)

Market Risk Amount

Interestraterisk 66,792

Equitypositionrisk 40,736

Foreignexchangerisk 75,624

Commodityrisk -

Total Capital Requirement 183,152

IX. Equity Position in the Banking Book


Differentiation between holdings on which capital gains are expected and those taken under other objectives including for relationship and strategic reasons:

NotApplicable

Discussion of important policies covering the valuation and accounting of equity holdings in the Banking book. This includes the accounting techniques and valuation methodologies used, including key assumptions and practices affecting valuation as well as significant changes in these practices:

For details on the accounting policies and valuation methodology, please refer to Note 3 to the consolidated financialstatementsunder‘SummaryofSignificantAccountingPolicies’.

Asat31st December 2017,theBank’stotalequityinvestmentportfoliointheBankingbookamountedtoAED 157.73 MM (excludingOIC).50.3%ofwhichrepresentsquotedinvestments.


4. Capital Requirements by Equity Groupings:

Particulars Amount

FairValuethroughOtherComprehensiveIncome(FVTOCI) 20,028

Total capital requirement 20,028

Note: Above amounts excludes Equity Investments of OIC

X. Interest Rate Risk in the Banking Book (IRRBB)

Interestrateriskarisesfromthepossibilitythatchangesininterestrateswillaffectfutureprofitability,cashflowsorthefairvaluesoffinancialinstruments.TheBankmanagesinterestrateriskbymatchingtherepricingofassetsandliabilitiesthroughriskmanagementstrategiesandmonitorsthepositionsonadailybasistoensuretheyaremaintainedwithinestablishedlimits.AdherencetotheselimitsismonitoredbyALCO.

InterestrateriskisalsoassessedbymeasuringtheimpactofdefinedmovementsininterestyieldcurvesontheBank’snetinterestincome.Thefollowingimpactonthenetinterestincomeandregulatorycapitalfortheyearofanimmediateandpermanentmovementininterestyieldcurvesasat31stDecember2017.

Shift in Yield Curves Net Interest Income Regulatory Capital

+200basispoint 17.70% -3.66%

-200basispoint -13.00% 3.95%

Theaboveinterestratesensitivitiesareillustrativeonlyandadoptsimplifiedscenarios.Thesensitivitiesdonotincorporateactionsthatcouldbetakenbymanagementtomitigatetheeffectofinterestratemovements.


Equity Position in the Banking Book as on 31st December 2017

(AED’000)

1. Quantitative Details of Equity Position:

TypeCurrent Year Previous Year

Publicly Traded Privately Held Publicly Traded Privately Held

Equities 79,297 78,431 70,140 82,196

Collectiveinvestmentschemes - - - -

Anyotherinvestment - - - -

Total 79,297 78,431 70,140 82,196

2. Realised, Unrealised and Latent Revaluation Gains (Losses) during the Year:

Particulars Amount

Gains(Losses) -

Realisedgains(losses)fromsalesandliquidations -

*Unrealisedgains(losses)recognisedinthebalancesheetbutnotthroughprofitandlossaccount 5,392

**Latentrevaluationgains(losses)forinvestmentrecordedatcostbutnotrecognisedinbalancesheetorprofitandlossaccount -

Total 5,392

3. Items in (2) above included in Tier 1/Tier 2 Capital:

Particulars Amount

TierCapital -

AmountincludedinTierIcapital -

AmountincludedinTierIIcapital 5,392

Total 5,392

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