Press Release
MPS GROUP RECEIVED FROM THE ECB, ON A PRELIMINARY BASIS, THE SREP CAPITAL REQUIREMENTS FOR 2023
Siena, 13 October 2022 – Banca Monte dei Paschi di Siena ("BMPS") announces that it has received the preliminary decision of the European Central Bank ("ECB") regarding the capital requirements to be met starting from 1st January 2023, which confirm the capital requirements currently in force.
The MPS Group - at consolidated level - must comply with an overall SREP Capital Requirement (Total SREP Capital Requirement - TSCR) of 10.75%, in line with what is envisaged in the 2022-2026 Business Plan. Such requirements include:
- a minimum requirement of own funds - Pillar 1 (P1R) of 8% (of which 4.50% in terms of CET1);
- an additional Pillar 2 (P2R) requirement of 2.75%, which is at the same level that was required for 2022, to be held for at least 56.25% in the form of Common Equity Tier 1 - CET1 - and 75% in the form of Tier 1 capital.
The ECB's evaluation is based on the process of review and assessment process (SREP) conducted by the ECB with reference date 31 December 2021, as well as the most relevant information received subsequently, confirming the current restriction on the distribution of dividends.
In light of the recent progress made, BMPS intends to make use of the right to represent certain considerations as part of the provided "right to be heard" process.
