BNG Bank receives ECB capital requirement 2023

23 December 2022

As part of the annual Supervisory Review and Evaluation Process (SREP) BNG Bank has received notification from the European Central Bank that the total SREP capital requirement for BNG Bank is set at 9.75%, effective as of 1 January 2023. This requirement is to be held in the form of 56.25% of Common Equity Tier 1 (CET1) capital and 75% of Tier 1 capital, as a minimum.

This total SREP capital requirement consists of (i) the minimum CET1 requirement under Pillar 1 (4.5%), (ii) the Pillar 1 Additional Tier 1 requirement (1.5%), (iii) the Pillar 1 Tier 2 requirement (2%), (iv) the Pillar 2 CET1 capital requirement (Pillar 2 requirement, 1.75%). Including the buffer requirements (the capital conservation buffer (CCB, 2.5% CET1), the countercyclical buffer (CCY, 0%) and the Other Systemic Important Institution buffer (O-SII, 1%)), this results in an Overall Capital Requirement of 13.25%.

As of 30 June 2022, the Tier 1 capital ratio amounts to 39.6%. As such, BNG Bank’s capitalization is substantially above the ECB requirement.

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