🇺🇸 SECBANCO BILBAO VIZCAYA ARGENTARIA, S.A.Doubao · 实盘不做把握 8/10不做原因:风险收益比不佳
北京时间·🕒 发布 18:15:27·⟳ 抓取 18:15:51 +24s·⚡ 决策 10-27 20:07:49 +1h51m·5.3 小时前
BBVA披露欧洲央行SREP结果:2027年集团最低总资本充足率13.60%、CET1 9.36%,监管要求小幅微调
这是每年一度的SREP例行监管函,P2R升20bp但取消0.12%全额CET1拨备附加,CET1口径净影响约中性偏紧约-1bp,且BBVA实际CET1(约12%以上)对9.36%最低要求有充足缓冲,相对一致预期无超预期、无指引、无经营损益影响,不构成方向性催化。
📄 原文BANCO BILBAO VIZCAYA ARGENTARIA, S.A.↗ 原文
----- d181259d6k.htm ----- 6-K 1 d181259d6k.htm 6-K 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.…
不做 Banco Bilbao Vizcaya Argentaria, S.A.(BBVA.US)
年度SREP例行监管资本要求披露:P2R升20bp但取消0.12%全额CET1拨备附加,CET1净约束近中性,且实际资本远高于9.36%下限、缓冲充裕,无超预期、无指引或损益增量,属程序性备案,不具交易edge。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
BBVA 6-K转达ECB 2027年SREP资本要求,P2R升20bp同时取消12bp的CET1拨备附加,净资本约束几乎不变且公司有大量资本缓冲,属例行程序性披露,无交易edge。
🔎 新鲜度:最早出现 2026-10-26 · 扩散 low · price-in 风险 medium ↗
关键理由
- 监管要求变化净额极小:P2R总口径+20bp对应CET1约+11bp,但取消0.12%全额CET1拨备要求,CET1净约束变化接近中性。
- BBVA实际CET1资本充足率远高于9.36%最低要求,缓冲充裕,不影响分红、回购或经营计划,无业绩增量。
主要风险
- SREP结果在提交SEC前已于2026-10-26在马德里由公司按西班牙证券市场法规发布,主上市地(马德里BBVA)可能已先行消化。
- 反周期缓冲0.39%为按2026年6月敞口的估算值,最终值随2026年12月数据略有变动,但量级很小。
反向证据
- 做多前查反向 · 来源 filing · 日期 2026-10-26 · 影响 weakens
6-K给定最低CET1要求9.36%(并表),P2R上调同时取消拨备附加,净约束近中性;BBVA实际资本水平历来显著高于监管下限,不存在因要求提高而被迫限制资本分配的情景。
检索:BBVA CET1 actual ratio 2026 capital buffer vs SREP requirement dividend 原文 ↗
先例如何影响了这次决策
对本次决策的影响:不据此设定任何止盈/止损或方向,直接AVOID。
方向:年度SREP资本要求为欧元区银行例行年度事件,通常在缓冲充足时市场反应微弱,不构成方向性先例样本。
涨幅量级:无高相似对齐先例可用于校准幅度;本事件净CET1影响近中性,量级本身不足以驱动股价。
形态:未检索到可对照先例,例行监管资本函缺乏可交易的见光死或超额收益模式。
工具执行结果 · 成功 1 · 降级 0 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 454 ms
{"result": "search_processed_events:agent query=`banco bilbao vizcaya argentaria pillar 2 requirement p2r 1.70% prudential provisioning removed | bbva ecb srep 2027 minimum capital requirements cet1 9.36% total 13.60% | bbva 欧洲央行`;结构化索引覆盖完整 72 小时;旧记录兼容扫描近 69.9/72 小时、4928 条本臂决策(完整),返回 0 条候选。未命中只表示这些
原文全文
展开原文 · 3,118 字
----- d181259d6k.htm -----
6-K
1
d181259d6k.htm
6-K
6-K
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON,
D.C. 20549
FORM
6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE
13a-16
OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2026
Commission file number:
1-10110
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
(Exact name of Registrant as specified in its charter)
BANK BILBAO VIZCAYA ARGENTARIA, S.A.
(Translation of Registrant’s name into English)
Calle Azul 4,
28050
Madrid
Spain
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F:
Form
20-F
X
Form
40-F
Indicate by check mark if the registrant is submitting the Form
6-K
in
paper as permitted by Regulation
S-T
Rule 101(b)(1):
Yes
No X
Indicate by check mark if the registrant is submitting the Form
6-K
in
paper as permitted by Regulation
S-T
Rule 101(b)(7):
Yes
No X
Banco Bilbao Vizcaya Argentaria, S.A.
(“
BBVA
”), in accordance with the provisions of the
Securities Market legislation, hereby communicates the following:
OTHER RELEVANT INFORMATION
As a result of the Supervisory Review and Evaluation Process (SREP), the European Central Bank (“
ECB”
) has communicated to BBVA the
minimum capital requirements for the year 2027.
In this regard, BBVA shall maintain at consolidated level a total capital ratio of 13.60% and a
CET1 capital ratio of 9.36% effective from January 1, 2027. These capital ratios include a Pillar 2 requirement at a consolidated level of 1.70%, of which a minimum of 0.96% shall be met with
CET1
1
.
In addition, BBVA shall maintain, effective from January 1, 2027 at the individual
level, a total capital ratio of 11.25% and a CET1 capital ratio of 7.75%.
Below is a table summarizing the minimum regulatory capital requirements
applicable to BBVA at both the consolidated and individual level:
Capital requirements
BBVA Consolidated
BBVA S.A. (individual)
CET 1
Total capital
CET 1
Total capital
Pillar 1
4.50%
8.00%
4.50%
8.00%
Pillar 2 (P2R)
0.96%
1.70%
N/A
N/A
Conservation buffer
2.50%
2.50%
2.50%
2.50%
Other Systemic Important Institution buffer
1.00%
1.00%
N/A
N/A
Systemic Risk buffer
0.01%
0.01%
0.02%
0.02%
Countercyclical buffer
2
0.39%
0.39%
0.73%
0.73%
Total capital requirements
9.36%
13.60%
7.75%
11.25%
Madrid, October 26th, 2026
1
The general Pillar 2 requirement increases from 1.50% to 1.70% compared with the previous year,
while the additional 0.12% requirement associated with the ECB’s prudential provisioning expectations, which had to be met entirely with CET1 capital, is no longer applicable.
2
The countercyclical buffer is estimated as of December 2026, using the outstanding exposures as of
June 2026.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
Banco Bilbao Vizcaya Argentaria, S.A.
Date: October 26, 2026
By:
/s/ Eduardo Ávila Zaragoza
Name:
Eduardo Ávila Zaragoza
Title:
Head of supervisory relations
6-K
1
d181259d6k.htm
6-K
6-K
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON,
D.C. 20549
FORM
6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE
13a-16
OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2026
Commission file number:
1-10110
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
(Exact name of Registrant as specified in its charter)
BANK BILBAO VIZCAYA ARGENTARIA, S.A.
(Translation of Registrant’s name into English)
Calle Azul 4,
28050
Madrid
Spain
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F:
Form
20-F
X
Form
40-F
Indicate by check mark if the registrant is submitting the Form
6-K
in
paper as permitted by Regulation
S-T
Rule 101(b)(1):
Yes
No X
Indicate by check mark if the registrant is submitting the Form
6-K
in
paper as permitted by Regulation
S-T
Rule 101(b)(7):
Yes
No X
Banco Bilbao Vizcaya Argentaria, S.A.
(“
BBVA
”), in accordance with the provisions of the
Securities Market legislation, hereby communicates the following:
OTHER RELEVANT INFORMATION
As a result of the Supervisory Review and Evaluation Process (SREP), the European Central Bank (“
ECB”
) has communicated to BBVA the
minimum capital requirements for the year 2027.
In this regard, BBVA shall maintain at consolidated level a total capital ratio of 13.60% and a
CET1 capital ratio of 9.36% effective from January 1, 2027. These capital ratios include a Pillar 2 requirement at a consolidated level of 1.70%, of which a minimum of 0.96% shall be met with
CET1
1
.
In addition, BBVA shall maintain, effective from January 1, 2027 at the individual
level, a total capital ratio of 11.25% and a CET1 capital ratio of 7.75%.
Below is a table summarizing the minimum regulatory capital requirements
applicable to BBVA at both the consolidated and individual level:
Capital requirements
BBVA Consolidated
BBVA S.A. (individual)
CET 1
Total capital
CET 1
Total capital
Pillar 1
4.50%
8.00%
4.50%
8.00%
Pillar 2 (P2R)
0.96%
1.70%
N/A
N/A
Conservation buffer
2.50%
2.50%
2.50%
2.50%
Other Systemic Important Institution buffer
1.00%
1.00%
N/A
N/A
Systemic Risk buffer
0.01%
0.01%
0.02%
0.02%
Countercyclical buffer
2
0.39%
0.39%
0.73%
0.73%
Total capital requirements
9.36%
13.60%
7.75%
11.25%
Madrid, October 26th, 2026
1
The general Pillar 2 requirement increases from 1.50% to 1.70% compared with the previous year,
while the additional 0.12% requirement associated with the ECB’s prudential provisioning expectations, which had to be met entirely with CET1 capital, is no longer applicable.
2
The countercyclical buffer is estimated as of December 2026, using the outstanding exposures as of
June 2026.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
Banco Bilbao Vizcaya Argentaria, S.A.
Date: October 26, 2026
By:
/s/ Eduardo Ávila Zaragoza
Name:
Eduardo Ávila Zaragoza
Title:
Head of supervisory relations
决策记录链 · 只追加
每次领取产生一条记录,重新决策追加一条并以 supersedes 指向被替代的记录(ADR 0014)。
cc92a0d12a· 2026-10-27 20:07 · doubao / doubao-seed-evolving-latest-version · 策略包b7b4acf827b8当前