Minimum SREP requirements unchanged vs. 2019. MPS Group returns to Other Systemically Important Institution status

Siena, 11 December 2019 – Banca Monte dei Paschi di Siena (“BMPS”) announces that it has received the European Central Bank’s (“ECB”) final decision regarding own funds requirements to be fulfilled starting from 1 January 2020.

According to this decision, in 2020 the Group must fulfil a Total SREP Capital Requirement (TSCR) of 11% on a consolidated basis, which includes a Pillar 1 minimum requirement (P1R) of 8% (of which 4.50% in terms of CET1) and an additional Pillar 2 requirement (P2R) of 3%, unchanged from 2019, to be held entirely in the form of CET1 capital.

The overall minimum requirement in terms of Total Capital Ratio is 13.64%, obtained by adding a 2.64% Combined Buffer Requirement (CBR: 2.50% Capital Conservation Buffer + 0.13% O-SII Buffer  + 0.01% Countercyclical Capital Buffer ) to the TSCR.

The overall minimum requirement in terms of CET1 ratio is 10.14%, the sum of P1R (4.50%), P2R (3%) and CBR (2.64%).

At 30 September 2019, MPS Group reported a transitional CET1 ratio of 14.8% (12.6% fully loaded) and a transitional Total Capital ratio of 16.7% (14.6% fully loaded), both comfortably above minimum requirements.


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Last modified: 11/12/2019