The Raiffeisen Group, in its capacity as the central organisation, is obligated to comply with capital adequacy rules and is thus required by supervisory law to make risk, capital adequacy and liquidity disclosures.
This disclosure is based on FINMA Circular 2016/1 «Disclosure – banks». Quantitative information has been disclosed in accordance with the requirements laid down in the Capital Adequacy Ordinance. Some of this information cannot be directly compared with that provided in the consolidated accounts, which is reported in line with the accounting requirements for banks laid down in FINMA Circular 2020/1 «Accounting – banks» and the FINMA Accounting Ordinance.
Capital adequacy calculations are based on the same group of consolidated companies as the consolidated Accounts. On 16 June 2014, the Swiss National Bank (SNB) issued an order classifying the Raiffeisen Group as systemically important. The provisions covering systemic importance require an additional capital adequacy disclosure. The corresponding information on risk-weighted capital adequacy and unweighted capital adequacy (leverage ratio) is available in Appendix 3 of this disclosure.
In its order of 16 June 2014, the Swiss National Bank (SNB) classified Raiffeisen Switzerland as systemically important. Up to 31 December 2020, there were no disclosure regulations at individual bank level at the Raiffeisen Switzerland level. Raiffeisen Switzerland is generally exempted from the disclosure obligations pursuant to the FINMA circular 2016/1 "Disclosure - banks" with the exception of the quarterly disclosure of information for system-relevant banks in accordance with Appendix 3 and the information on fundamental regulatory key figures in accordance with Table KM1 of Appendix 2. These tables were published for the first time on 31 March 2021.
According to Art. 10 (3) CAO, FINMA can permit a bank to consolidate Group companies operating in the financial sphere due to their especially close relationship with the bank already at the level of individual banks (solo consolidation). Pursuant to the order of 21 July 2016, which was replaced by the order of 12 November 2020, FINMA permits Raiffeisen Switzerland in the context of individual bank regulations to solo consolidate the subsidiary Raiffeisen Switzerland B.V. Amsterdam.
Since 31 December 2016, capital at Raiffeisen Switzerland is calculated on a solo consolidated basis. Apart from this, there are no deviations between the regulatory and accounting scope of consolidation.
As members of the central organisation, the individual Raiffeisen banks continue to enjoy exemption from meeting the capital provisions on an individual basis and are thus not subject to the duties of disclosure obligations under supervisory law (CAO Article 10 and FINMA Circular 2016/1 marginal Note 11).