Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 73

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 4
Chunk 73
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 2024, considering exposures subject to the calculation of the countercyclical buffer as of December 31, 2024.
In addition, BBVA must maintain, as from March 27, 2024, an amount of own funds and eligible liabilities in terms of the total exposure considered for calculating the leverage ratio equal to 8.48% (the “MREL in LR”) of which 5.78% in terms of the total exposure considered for calculating the leverage ratio shall be satisfied with subordinated instruments (the “subordination requirement in LR”).
As of the date of this Annual Report, no MREL Pillar 2 requirement has been imposed on BBVA. Given the own funds and eligible liabilities structure of BBVA’s resolution group as of December 31, 2024, the amount of own funds and eligible liabilities stood at 27.92% of the RWAs of its resolution group, at the sub-consolidated level, complying with the aforementioned MREL in RWAs requirement, and the amount of subordinated instruments was equal to 23.13% of the RWAs of it resolution group, at the sub-consolidated level, complying with the subordination requirement in RWAs.
In addition, as of December 31, 2024, the amount of own funds and eligible liabilities of BBVA in terms of the total exposure considered for calculating the leverage ratio stood at 12.10% and the amount of subordination instruments in terms of the total exposure considered for calculating the leverage ratio stood at 10.03%, complying with the MREL in LR and the subordination requirement in LR, respectively.
The resolution group consists of BBVA and its subsidiaries belonging to the same European resolution group and, as of December 31, 2024 (the currently applicable reference date), the RWAs of the resolution group amounted to €228,796 million and the total exposure considered for calculating the leverage ratio amounted to €527,804 million.
Single Resolution Fund
The SRF was established by Regulation (EU) No 806/2014 (“SRM Regulation”). Where necessary, the SRF may be used to ensure the efficient application of resolution tools and the exercise of the resolution powers conferred to the SRB by the SRM Regulation.
The SRF is composed of contributions from credit institutions and certain investment firms in the participating Member States within the Banking Union.
SRF has been gradually built up during the first eight years (2016-2023) and has reached the target level of