France's four largest banking groups disclosed their new minimum capital requirements following the results of the European Central Bank's latest supervisory review and evaluation process.
Groupe BPCE's phased-in consolidated common equity Tier 1 ratio must be at least 8.63% in 2018, while the fully loaded ratio must be no lower than 9.5% as of Jan. 1, 2019. Unit Natixis must meet a phased-in CET1 ratio of 8.38% in 2018 and a fully loaded ratio of 9% in 2019. As of Sept. 30, Groupe BPCE's phased-in CET1 ratio stood at 14.92%, while that of Natixis stood at 11.4%.
BNP Paribas SA must maintain a minimum phased-in consolidated CET1 ratio of 9.13% and a total capital ratio of 12.63% in 2018, and fully loaded CET1 and total capital ratios of 9.75% and 13.25%, respectively, in 2019. The bank said it is maintaining its 2020 targets of a 12% CET1 ratio and a 15% total capital ratio.
Crédit Agricole Group will need to meet a minimum consolidated CET1 ratio of 8.63% on a phased-in basis as of Jan. 1, 2018. Meanwhile, Crédit Agricole SA will need to maintain a phased-in CET1 ratio of at least 7.88% and a fully loaded ratio of at least 8.5%. As of Sept. 30, Crédit Agricole Group's transitional CET1 ratio stood at 14.9%, while Crédit Agricole SA's ratio stood at 12.0%.
Société Générale SA's minimum phased-in CET1 ratio was set at 8.7% from Jan. 1, 2018, while the fully loaded requirement, effective a year later, was set at 9.6%. SocGen's phased-in CET1 ratio stood at 11.7% as of September end.