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ECB sets 2020 SREP capital requirements for Groupe BPCE, Natixis

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ECB sets 2020 SREP capital requirements for Groupe BPCE, Natixis

Groupe BPCE said it must maintain a common equity Tier 1 ratio of 9.98% on a consolidated basis, as of Jan. 1, 2020, following the ECB's annual supervisory review and evaluation process.

The figure includes a Pillar 2 requirement of 1.75%, excluding Pillar 2 guidance, a capital conservation buffer of 2.5%, a 1% capital buffer for global systemically important banks and a countercyclical buffer of 0.23%.

The French group is also required to maintain a total capital requirement of 13.48%, excluding Pillar 2 guidance.

Meanwhile, the ECB also set Groupe BPCE unit Natixis a CET1 ratio requirement of 9.47%, as of Jan. 1, 2020, including a Pillar 2 requirement of 2.25% and a countercyclical buffer of 0.22%.

Groupe BPCE noted that its CET1 ratio and total capital ratio stood at 15.4% and 18.8%, respectively, as of Sept. 30 — well above the regulator's prudential capital requirements. Meanwhile, Natixis' fully loaded 11.5% as of September-end is also well above the regulatory requirement stood and its CET1 ratio target of 11.2% for 2020.