Intesa's CET1 requirement under SREP process rises to 9.32%
Reuters
Published Nov 30, 2023 19:05
MILAN (Reuters) - Italy's biggest bank Intesa Sanpaolo (BIT:ISP) said on Thursday the European Central Bank had set a minimum threshold for its best-quality Common Equity Tier 1 (CET1) capital of 9.32% for 2024, above the previous year's level.
The ECB had set the same threshold at 8.88% for the current year.
The new requirement kicks in on Jan. 1, 2024.
The increase to 2023 stems mostly from a buffer that 'Other Systemically Important Institutions' (O-SII) are due to hold, which stands at 1.25% for 2024 versus 0.75% in 2023.
The countercyclical buffer requirement also inched up slightly to 0.23% from 0.16%, Intesa (LON:0HBC) said.
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Written By: Reuters
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