Groupe BPCE Exceeds Prudential Capital Requirements Set by ECB for 2024

Groupe BPCE Exceeds Prudential Capital Requirements Set by ECB for 2024

(IN BRIEF) Groupe BPCE has received notification from the European Central Bank (ECB) regarding its 2024 prudential capital requirements following the Supervisory Review and Evaluation Process (SREP) conducted in 2023. The Common Equity Tier 1 (CET1) requirement for Groupe BPCE on a consolidated basis has been set at 10.47% as of January 2, 2024. This includes various components such as the Pillar 2 requirement, capital conservation buffer, capital buffer for global systemically important banks (G-SIBs), and countercyclical buffers. The Total Capital requirement is set at 14.49%, including 2.1% of Pillar 2 requirement. Groupe BPCE’s CET1 and Total Capital ratios as of September 30, 2023, are 15.4% and 18.2%, respectively, which positions the bank comfortably above the prudential capital requirements.

(PRESS RELEASE) PARIS, 6-Dec-2023 — /EuropaWire/ — Groupe BPCE has received notification from the European Central Bank concerning the results of the Supervisory Review and Evaluation Process (SREP) conducted in 2023, stating the level of prudential capital requirements for 2024.

The Common Equity Tier 1 (CET1) requirement applicable to Groupe BPCE on a consolidated basis has been set at 10.47% as of January 2nd, 2024, including:

• 1.58% with respect to the “Pillar 2 requirement” or P2R,

• 2.5% with respect to the capital conservation buffer,

• 1% with respect to the capital buffer for global systemically important banks (G-SIBs),

• 0.89% with respect to the countercyclical buffers1.

The Total Capital requirement has been set at 14.49% including 2.1% of P2R.

With ratios as of September 30th, 2023 of 15.4% for its CET1 ratio and 18.2% for its Total Capital ratio, Groupe BPCE is positioned well above the prudential capital requirements due to be applied as of January 2nd, 2024.

The ECB also set Natixis’ prudential capital requirements. Including 0.61% of countercyclical buffers on 2nd January 2024, Natixis’ CET1 ratio requirement is set at 8.88% on the same date including Pillar 2 requirement of 2.25%, decreasing by 0.25% vs. 2023. With a fully loaded CET1 ratio of 11.2% as of June 30th, 2023, Natixis is also well above these regulatory requirements.

1 Estimated amount after 50 bps increase for the CCyB in France scheduled as of January 2nd, 2024.

Media Contact:

Christophe Gilbert
HEAD OF PRESS RELATIONS AND E REPUTATION FOR GROUPE BPCE
+33 (0)1 40 39 66 00
christophe.gilbert@bpce.fr

SOURCE: GROUPE BPCE