Bond run hits UniCredit capital buffer, trading income

- By Alessandro Aimone
- @aimoneale
- 07 Aug 2018

The second quarter tantrum in the Italian government bond (BTP) market tore 30 basis points out of UniCredit’s Common Equity Tier 1 (CET1) capital ratio.

The Italian lender reported an end-June ratio of 12.51%, down from 13.06% three months prior – its third consecutive quarter of decline. UniCredit attributed 35bp of the drop to the fall in value of bonds held for trading, and all but 5bp of

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