BNG Bank receives SREP notification from European Central Bank
21 December 2016 8:00
As part of the yearly Supervisory Review and Evaluation Process (SREP), BNG Bank has been notified of the European Central Bank final decision to impose an additional 2.25 percent CET1 buffer requirement ('Pillar 2') for 2017.
As a consequence, the total CET1 requirement for BNG Bank will be 8.5% in 2017. This includes the Pillar 2 requirement but excludes the non-mandatory Pillar 2 guidance which is not disclosed. This requirement coincides with the trigger level under the new Maximum Distributable Amount (MDA) framework.
On June 30. 2016, BNG Bank's CET1 ratio equaled 25.9%, exceeding the 2017 requirement multiple times.