Business Context and Reporting Period
This Form 6-K filing by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is dated April 14, 2026. The report communicates "Other Relevant Information" regarding a new determination of the Minimum Requirement for own funds and Eligible Liabilities (MREL) received from the Bank of Spain, based on financial data as of December 31, 2024.
Key Financial Metrics and Regulatory Requirements
The filing details specific regulatory capital and liability thresholds applicable to BBVA's resolution group:
- MREL in Risk-Weighted Assets (RWAs): 23.94% of total RWAs.
- Subordination Requirement in RWAs: 13.50% of total RWAs must be met with subordinated instruments.
- MREL in Leverage Ratio (LR): 8.96% of total exposure.
- Subordination Requirement in LR: 5.56% of total exposure must be met with subordinated instruments.
- Combined Capital Buffer: 3.72% of total RWAs (excluded from MREL calculations).
- Resolution Group RWAs (as of Dec 31, 2024): €228,796 million.
- Resolution Group Total Exposure (as of Dec 31, 2024): €527,804 million.
The filing states that BBVA's current structure of own funds and eligible liabilities complies with all the aforementioned MREL and subordination requirements.
Material Changes Versus Prior Period
This communication repeals and supersedes a previous MREL determination communicated to the market on June 12, 2025 (Registration Number 35268). The new requirements are effective from the date of receipt (April 14, 2026).
Guidance, Outlook, and Risks
The filing does not provide financial guidance, revenue outlook, or management commentary on operational performance. The primary focus is regulatory compliance under the Single Resolution Board's (SRB) "Multiple Point of Entry" resolution strategy. No unusual items or contingencies regarding financial performance were disclosed in this specific notice.
Key Facts for Investor Verification
- Verify that the new MREL requirements (23.94% in RWAs and 8.96% in LR) are fully integrated into the bank's capital planning.
- Confirm the continued compliance status of the resolution group's subordinated instruments against the 13.50% (RWA) and 5.56% (LR) thresholds.
- Note that the underlying financial data for these calculations is based on the position as of December 31, 2024.
- Review the previous June 2025 filing to understand the magnitude of the change in regulatory requirements.