BNP Paribas: The ECB increases its CET1 requirements to at least 10.02% as of January 1 – 01/12/2023 at 8:39 p.m.

The European Central Bank (ECB) will require from January 1 that the CET1 ratio of BNP Paribas rises to at least 10.02%, compared to 9.56% requested so far, the French bank announced on Friday in a statement.

“The Common Equity Tier 1 (CET1) capital requirement that the Group must respect on a consolidated basis as of January 1, 2024 is 10.02% (excluding Pillar 2 guidance). It includes 1.50% for G -SIB buffer, 2.50% under the Conservation buffer, 1.11% under the Pillar 2 requirement1 and 0.41% counter-cyclical cushion”, says the credit institution which specifies that it had as of 30 September of a phased CET1 ratio of 13.44%.

(Report Mathieu Rosemain, written by Nicolas Delame)