Union bank stress test announced on 29 July, UniCredit's CET1 ratio (fully loaded basis) was predicted at 7.10% in the adverse scenario on 31 December 2018, which was the second last among the big 5 Italian banks that participated in the stress test (the last was Banca Monte dei Paschi di Siena). Based on the 2016 SREP, UniCredit Group has required a fully load basis CET1 ratio of 10.5% from 1 January 2019 due to an increase in Capital Conservation Buffer and global systemically important bank buffer as required by CRR and CRD IV. Moreover, the pillar 2 guidance: the additional capital that ECB suggested the bank to keep, was remained confidential. In January 2017 10 old ordinary shares were combined into 1 new ordinary share, as well as bearer savings share and registered savings share. On April 6, 2017, UniCredit issued its first bond in the United States in a decade. In mid-2017, a capital increase was completed as well as securitization and partial disposal of the NPLs of the bank. In December 2017, the savings share () of the bank was converted to the ordinary share, as well as the removal of the 5% cap on voting rights for each entity. Geography The company has its registered office and general management in Milan. The registered office was located in Rome from the date of the merger with Capitalia in 2007, and relocated back to Milan in 2017. The registered office was located in Genoa from 1999 to 2007. UniCredit's core markets are Italy, Germany, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Serbia, Slovakia, Slovenia, Romania, and Russia. In 2022, the group announced its intention to leave Russia and is trying to get permission from the Central Bank to sell the business. UniCredit Corporate & Investment banking division serves 1,500 multinational corporates and key financial institutions and supports the group’s corporate banking units in delivering services to 600,000 corporate and public sector clients. Its International Network spreads over 16 countries worldwide and provides access to a network of 4,000 correspondent banking relationships, covering 175 countries. CIB international centers are present in New York City, London, Hong Kong, Singapore, Tokyo, Shanghai, Milan, Munich, Vienna, Budapest, Prague, Madrid, Beijing, Mumbai, Athens, Seoul, Zurich, Hanoi, Abu Dhabi. With the goal of fostering trade and investment between Eastern and Western Europe, UniCredit has joined up with and the Federal State of