CREDIT AGRICOLE SA: Capital: notification of the level of Pillar 2 additional requirement
01 Dezember 2023 - 5:45PM
CREDIT AGRICOLE SA: Capital: notification of the level of Pillar 2
additional requirement
Montrouge, 1st December 2023
Capital: notification of the level of Pillar 2
additional requirement
The European Central Bank (ECB) has notified
Crédit Agricole Group and Crédit Agricole S.A. of their capital
requirements in respect of Pillar 2 (P2R) applicable as of 1st
January 2024, i.e. 1.75% for Crédit Agricole Group and 1.65% for
Crédit Agricole S.A.
Crédit Agricole Group must comply with a CET1
ratio of at least 9.7% as from January 2024, including Pillar 1 and
Pillar 2 capital requirements as well as the applicable combined
buffer requirement (conservation buffer of 2.5%, buffer for global
systemically important institutions (G-SIB) of 1% and
countercyclical buffer estimated at 0.75%1 as of 2 January 2024).
Crédit Agricole S.A. must comply as from January 2024 with a CET1
ratio of at least 8.5%, including Pillar 1 and Pillar 2 capital
requirements as well as the applicable combined buffer requirement
(conservation buffer of 2.5% and countercyclical buffer estimated
at 0.62%1 as of 2 January 2024).
The CET1 phased-in ratio of Crédit Agricole
Group was 17.5% at end-September 2023. Thus, the Group has the best
level of solvency among European systemic banks.
As the central body of Crédit Agricole Group,
Crédit Agricole S.A. fully benefits from the legal solidarity
mechanism as well as the internal flexibility of capital
circulation within the Crédit Agricole Group. Its phased-in CET1
ratio was 11.8% at end-September 2023.
CRÉDIT AGRICOLE S.A. PRESS CONTACT
Alexandre Barat : 01 57 72 12 19 –
alexandre.barat@credit-agricole-sa.frOlivier Tassain : 01 43
23 25 41 –
olivier.tassain@credit-agricole-sa.fr Find
our press release on : www.credit-agricole.com -
www.creditagricole.info
1 Based on the information available to date, and in particular
taking into account the rise in French countercyclical buffer rate
to 1% as of 2 January 2024, CA Group and CASA’s countercyclical
buffer would amount respectively to 0.75% and 0.62% on 2 January
2024.
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