Annual update of Groupe BPCE's MREL requirements
Groupe BPCE manages its MREL(1) ratios well above its requirements
ACPR, the French Prudential and Resolution Supervision Authority, implementing the decision of the Single Resolution Board, has just notified the updated requirements applicable to Groupe BPCE in 2023.
The updated total MREL requirement is set in the notification at 25.0%(2) of the Group's risk-weighted assets or RWAs. It is set at 6.2% of the leverage ratio exposure.
Regarding the subordination requirement, Groupe BPCE complies with article 92a 1. (a) of CRR regulation
n° 575/2013 providing for a requirement of 21.5% of RWAs. The subordination requirement based on the leverage ratio exposure is set in the notification at 6.75% in application of article 92a 1. (b) of the CRR regulation.
Groupe BPCE remains well above its updated requirements: the Group's total MREL ratio was 30.5% based on RWAs at the end of December 2022 and the Group's subordinated MREL ratio (similar to the TLAC ratio) was 23.8% at the end of December 2022. These ratios were respectively 10.1% and 7.9% of the leverage ratio exposure at the end of December 2022.
(1) - Minimum Requirement for Own Funds and Eligible Liabilities.
(2) - Requirement including a countercyclical buffer applicable to the Group of 0.03%.
Contact
Related links
About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
The press area was created by BPCE in order to make it easier for professionals to access Groupe BPCE press releases, images, videos, computer graphics, etc. (hereafter referred to collectively as the “Content”). This Content can be used to illustrate all publications, reports, articles or, more generally, any document or medium designed to inform the public of Groupe BPCE’s activity. You are not allowed to use the Content for commercial or publicity purposes. You are not allowed to modify the Content (except for changes of format). The Content is regularly updated by BPCE, therefore you should frequently access the press area in order to ensure you use the latest version of the Content. Your attention is also drawn to the fact that the Content contains elements considered to be intellectual works protected by copyright law and notably by France’s intellectual property code. Consequently, the photo credit (shown at the bottom right of the photo) and the mention [source BPCE] must be displayed in all publications (printed or electronic). Any user who fails to respect these conditions shall be liable vis-à-vis BPCE, the author of the Content or his/her beneficiaries and, where applicable, the persons whose image is reproduced in the Content. By downloading and, more generally, using all or part of the Content you agree to these terms.