BNG Bank SREP process 2017

15 December 2017 1:00

As a result of the yearly Supervisory Review and Evaluation Process (SREP) the European Central Bank (ECB) has communicated to BNG Bank a phased-in total capital ratio requirement of 12.375%, effective from the 1st of January 2018.

This total capital requirement includes: (i) the minimum CET1 capital ratio required under Pillar 1 (4.5%); (ii) the Pillar 1 Additional Tier 1 (AT1) capital requirement (1.5%); (iii) the Pillar 1 Tier 2 capital requirement (2%); (iv) the Pillar 2 CET1 capital requirement (P2R, 1.75%), (v) the capital conservation buffer (CCB, 1.875% CET1) and (vi) the Other Systemic Important Institution buffer (OSII, 0.75% CET1).

Compared to 2017, the P2R is 0.5% lower, and as such is the total capital ratio requirement on a fully loaded basis.

As of 30th June 2017, the phased-in total capital ratio stands at 36%. As such, BNG Bank's capitalization is substantially above the ECB requirement.

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