As at 31 December 2014, the leverage ratio at the Group level was 8,29%
When calculating leverage, the Group does not apply the derogations set forth in Articles 499.2 and 499.3 of CRR. Leverage ratio is calculated both with respect to Tier 1 capital and using the temporary definition of Tier 1 capital.
The distribution of the total exposure measure used in the leverage ratio and leverage levels as at 31 December 2014 are presented in the table below:
Distribution of the total exposure measure and leverage levels as at 31 December 2014, (in PLN thous., %)
| The amount and distribution of total exposure used in the leverage ratio, according to COREP report | 1 month | 2 months | 3 months |
|---|---|---|---|
| Exposure to equity financing transactions in accordance with Article 220 of CRR | 2.033.890.692 | 1.390.290.069 | 155.583.000 |
| Derivatives: market value | 621.837.738 | 614.635.632 | 618.968.267 |
| Undrawn credit facilities unconditionally cancellable at any time without notice | 678.212.461 | 690.202.786 | 722 804 005 |
| Other assets | 57.909.095.334 | 58.206.719.919 | 59.417.975.106 |
| Medium/low risk trade finance off-balance sheet items | 126.300.415 | 121.954.831 | 122.008.791 |
| Medium risk trade finance off-balance sheet items and off-balance sheet items related to officially supported export financing | 264.478.045 | 264.151.272 | 244.027.578 |
| Other off-balance sheet items | 587.525.733 | 76.121.082 | 61.796.432 |
| Leverage ratio - using the fully implemented Tier 1 Capital definition | 8,21 | 8,32 | 8,25 |
| Leverage ratio - using the temporary Tier 1 Capital definition | 8,3 | 8,41 | 8,3 |
The Group does not apply amounts that have been excluded from the total exposure measure in accordance with CRR 429.11.
With the Risk Strategy assumptions currently in place, the Group assesses the risk of excessive financial leverage as immaterial and therefore no specific procedures have been developed in this area.
The table below presents the leverage ratio levels in 2014; its level is satisfactory, with slight changes, and therefore a description of factors that had an impact on its levels is not justified.
Leverage ratio in 2014 (in %)
| Leverage ratio | 30.06.2014 | 30.09.2014 | 31.12.2014 |
|---|---|---|---|
| Leverage ratio - using the fully implemented Tier 1 Capital definition, calculated as an arithmetic average | 8.23 | 8.14 | 8.26 |
| Leverage ratio - using the temporary Tier 1 Capital definition, calculated as an arithmetic average | 8.44 | 8.30 | 8.36 |
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