Portfolio wind-up continues apace in 2015

 

In the first three months of the current year, the EAA has once again made good progress in winding up its portfolio. The notional volume of lending and securities was reduced by a good 5 per cent to EUR 49.5 billion. Around 71 per cent of all positions transferred to the EAA have therefore meanwhile been wound up.

According to the current wind-up plan, the EAA expects banking book positions to contract in full-year 2015 to EUR 44.7 billion, both through active measures as well as through contractual maturities. The schedule for the winding up of the entire portfolio has to date always been maintained or even met ahead of time.

The notional volume of the trading portfolio fell by around 11 per cent to EUR 414.2 billion in the period between January and March 2015. Since the transfer, already 61 percent has been wound up. The EAA will continue to analyse, also in future, how the portfolio wind-up can be accelerated effectively and cost efficiently. At present, it expects a contraction of the notional volume to around EUR 363 billion by the end of 2015.

Under the EAA's management strategy, the success of the wind-up plan is determined by the reduction of the notional volume before foreign exchange effects (that is, at constant currencies as per 31 December 2011 for the banking book, as as per 30 June 2012 for the trading portfolio, respectively).