Bank-level data
| Variable | BPS | UBI | CV | BPER | BPM | BP | PEL |
|---|---|---|---|---|---|---|---|
| CAR[−2, +20] | 0.150 | 0.034 | 0.268 | 0.203 | 0.173 | 0.179 | 0.506 |
| CAR[−2, +1] | 0.147 | 0.091 | 0.192 | 0.155 | 0.129 | 0.147 | 0.468 |
| EPS | 0.302 | −0.806 | −0.407 | 0.041 | 0.059 | −6.502 | −0.13 |
| ROE | 5.300 | −7.210 | −22.000 | 0.330 | 5.690 | −24.020 | −29.600 |
| ROIC | 2.140 | 0.320 | −1.500 | 0.650 | 1.940 | −2.400 | −1.150 |
| TIER1 | 9.760 | 12.330 | 10.970 | 11.290 | 12.210 | 12.260 | 7.400 |
| Ownership (%) | 5.098 | 7.181 | 2.358 | 0.000 | 5.734 | 2.891 | 2.021 |
| Shareholder 1 (%) | 2.811 | 4.903 | 2.358 | 0.000 | 5.734 | 2.891 | 2.021 |
| Shareholder 2 (%) | 2.287 | 2.278 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Assets | 35.226 | 119.343 | 28.159 | 59.474 | 47.368 | 119.527 | 12.519 |
| TIER1 stressed | 4.2 | 8.2 | 3.5 | 5.2 | 4 | 4.7 | na |
| NPL (%) | 11.04 | 11.38 | na | 18.61 | 13.21 | 19.61 | na |
| NPL coverage (%) | 43.21 | 27.13 | na | 40.67 | 38.79 | 34.26 | na |
| NPL collateral (%) | 47.00 | 54.81 | na | 48.57 | 44.89 | 57.45 | na |
| Variable | BPS | UBI | CV | BPER | BPM | BP | PEL |
|---|---|---|---|---|---|---|---|
| CAR[−2, +20] | 0.150 | 0.034 | 0.268 | 0.203 | 0.173 | 0.179 | 0.506 |
| CAR[−2, +1] | 0.147 | 0.091 | 0.192 | 0.155 | 0.129 | 0.147 | 0.468 |
| EPS | 0.302 | −0.806 | −0.407 | 0.041 | 0.059 | −6.502 | −0.13 |
| ROE | 5.300 | −7.210 | −22.000 | 0.330 | 5.690 | −24.020 | −29.600 |
| ROIC | 2.140 | 0.320 | −1.500 | 0.650 | 1.940 | −2.400 | −1.150 |
| TIER1 | 9.760 | 12.330 | 10.970 | 11.290 | 12.210 | 12.260 | 7.400 |
| Ownership (%) | 5.098 | 7.181 | 2.358 | 0.000 | 5.734 | 2.891 | 2.021 |
| Shareholder 1 (%) | 2.811 | 4.903 | 2.358 | 0.000 | 5.734 | 2.891 | 2.021 |
| Shareholder 2 (%) | 2.287 | 2.278 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Assets | 35.226 | 119.343 | 28.159 | 59.474 | 47.368 | 119.527 | 12.519 |
| TIER1 stressed | 4.2 | 8.2 | 3.5 | 5.2 | 4 | 4.7 | na |
| NPL (%) | 11.04 | 11.38 | na | 18.61 | 13.21 | 19.61 | na |
| NPL coverage (%) | 43.21 | 27.13 | na | 40.67 | 38.79 | 34.26 | na |
| NPL collateral (%) | 47.00 | 54.81 | na | 48.57 | 44.89 | 57.45 | na |
Note(s): The table reports CARs, accounting and ownership data for each of the seven banks in the treatment group. CAR[−2, +20] and CAR[−2, +1] are the estimated CARs for the longer and shorter event window, respectively. EPS indicates earnings per Share, while ROE and ROIC are return on equity and return on invested capital, respectively. TIER1 indicates the TIER 1 ratio. Ownership is the percentage of stocks held by “significant stockholders” (i.e. investors holding more than 2 per cent of outstanding shares, based on the Consob database), while Shareholder 1 and Shareholder 2 indicate the percentage held by the first and second largest shareholder, respectively. Assets is balance sheet's total assets at the end of the financial year 2014, with values measured in EUR millions. TIER1 stressed is the estimated Tier 1 that the bank would have in a stressed macroeconomic scenario, according to the European Banking Authority 2014 EU-wide stress test. The following three variables, finally, are from the European Banking Authority 2015 EU-wide transparency exercise: NPL (%), which measures the percentage of non-performing loans (NPL') as a share of total outstanding loans; NPL coverage (%), which indicates the percentage of NPLs for which the bank has set aside provisions to cover the expected losses; and NPL collateral (%), which indicates the percentage of NPLs for which the bank has received collaterals