Result of the 2011 EU-wide stress test for DZ BANK

DZ BANK was subject to the 2011 EU-wide stress test conducted by the European Banking Authority (EBA), in cooperation with Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and the Bundesbank, the European Central Bank (ECB), the European Commission (EC) and the European Systemic Risk Board (ESRB).

DZ BANK fully acknowledges the outcomes of the EU-wide stress test. The results determine that DZ BANK meets the capital benchmark set out for the purpose of the stress test. As a result of the assumed shock, the estimated consolidated Core Tier 1 capital ratio of DZ BANK would change to 6.9 % under the adverse scenario in 2012 compared to 8.2 % as of end of 2010 taking into account the published reclassification of the allocation to section 340 f HGB reserves into the fund for general bank risks.

The EU-wide stress test, carried out across 91 banks covering over 65% of the EU banking system's total assets, seeks to assess the resilience of European banks to severe shocks and their specific solvency to hypothetical stress events under certain restrictive conditions. The assumptions and methodology were established to assess banks' capital adequacy against a 5% Core Tier 1 capital benchmark. The adverse stress test scenario was set by the ECB and covers a two-year horizon (2011-2012). The stress test has been carried out using a static balance sheet assumption as at December 2010. The stress test does not take into account future business strategies and management actions and is not a forecast of DZ BANK’s profits.

The detailed results of the stress test under the baseline and adverse scenarios as well as information on DZ BANK’s credit exposures and exposures to central and local governments are provided in the accompanying disclosure tables based on the common format provided by the EBA which are published under -> Investor Relations -> IR Releases

The stress test was carried out based on the EBA common methodology and key common assumptions (e.g. constant balance sheet, uniform treatment of securitisation exposures) as published in the EBA Methodological note. Therefore, the information relative to the baseline scenarios is provided only for comparison purposes. Neither the baseline scenario nor the adverse scenario should in any way be construed as a bank’s forecast or directly compared to the other information published by the bank. For more details on the scenarios, assumptions and methodology see the EBA website:

EBA website



Martin Roth, Head of Communication & Marketing Division
Tel.: +49-69-7447-42750