(CercleFinance.com) – At the end of the Supervisory Review and Evaluation Process (SREP) 2023, Crédit Agricole SA was notified by the European Central Bank (ECB) of a capital requirement under Pillar 2 (P2R) applicable from from January 1, 2024 of 1.65%.
From January 2024, the bank must comply with a CET1 ratio of at least 8.5%, including the requirements under Pillar 1 and Pillar 2, supplemented by the overall capital buffer requirement in force.
In its capacity as the central body of the Crédit Agricole Group, it fully benefits from the internal legal solidarity mechanism as well as the flexibility of circulation of capital within the group. Its phased CET1 ratio stood at 11.8% as of September 30, 2023.