The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Delphine Lee - JPMorgan Chase & Co, Research Division - Analyst
: First of all, I just wanted to ask about capital, just a very quick one around the decline of 10 basis points quarter-on-quarter. It looks like you have
slightly higher DTA deductions. So I just wanted to understand the moving parts, and if there is -- there's been any changes related to the new
proposals from the government around the DTAs on IFRS 9? Or anything -- any comment that you could provide to just understand the impacts
and the trends. And then, the second question is on the regulatory impacts, which are coming. So I guess, you still have the bulk of the EBA
guidelines, if that hasn't changed. But also if you have any comments around TRIM or IFRS 16, anything that we should be aware of?
Question: Delphine Lee - JPMorgan Chase & Co, Research Division - Analyst
: And the EBA guideline is still coming in -- I guess, sometime in 2019, the bulk of the 80 basis points?
Question: Domenico Santoro - HSBC, Research Division - Analyst
: Thanks for giving us all this visibility on the NII. Just a couple of comments left, if I may. First of all, just to help us to model the NII going forward. I
was just wondering whether you can give us the contribution from OTPs and the time you've asked? Also nonperforming loans on your NII in Q4?
Then a question on the marginal rate that you, at this moment pay, on your excess reserve, which is deposit back to the ECB. I was just wondering
whether this is, now at this point, accrued in your NII? And whether the introduction of a 2 tier system or a reduction in marginal rate will have a
positive impact on your NII? And then to come back to the question of Andrea on IFRS 9 -- sorry, to come back on this. But for us, it's really obscure
the way it can work, especially in the first tier. If there is an increase in stage 2 loans and stage 3, the same that we have seen in the stress test. I was
just wondering the below 60 basis points on which level of GDP growth is estimated for 2019?
Question: Domenico Santoro - HSBC, Research Division - Analyst
: The level of GDP, which you implied in your guidance.
Question: Hugo Moniz Marques Da Cruz - Keefe, Bruyette & Woods Limited, Research Division - Analyst
: I don't have any further questions.
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