Banco Comercial Português, S.A. informs about minimum prudential requirements
December 17 2019 - 1:25PM
Banco Comercial Português, S.A. informs about minimum prudential
requirements
Banco Comercial Português, S.A. (BCP) hereby
informs that it has been notified of the decision of the European
Central Bank (ECB) regarding minimum prudential requirements to be
fulfilled on a consolidated basis from January 1st, 2020, based on
the results of the Supervisory Review and Evaluation Process
(SREP). In addition, BCP was informed by the Bank of Portugal on
its capital buffer requirement as “other systemically important
institution” (O-SII).
The ECB’s decision prescribes the following
minimum ratios as a percentage of total risk weighted assets (RWA)
from January 1st, 2020:
(table in the attached document)
Buffers include the conservation buffer (2.5%),
the countercyclical buffer (0%) and the buffer for other
systemically important institutions (O-SII: 0.563%). Given the
increased systemic importance of BCP for the Portuguese financial
system, its future O-SII reserve requirement was revised from 0.75%
to 1.00%, and BCP was granted an additional year (January 1st,
2022) to fulfill it, as communicated by the Bank of Portugal in its
website.
According to ECB’s decision under SREP, the
Pillar 2 requirement for BCP was set at 2.25%, the same value as
for 2019.
Taking into account its capital ratios as of
September 30th, 2019, BCP complies comfortably with the minimum
capital ratio requirements for CET1 (Common Equity Tier 1), Tier 1
and total ratio.
End of announcement
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