ESG Strategy and Digital Transformation
SREP requirements
SREP requirements for 2021 and 2022
CET1 ratio
Total capital ratio
15.01%
14.50%
1.25%
10.08%
O-SII
1.00%
9.69%
1.25%
2.50%
O-SII
1.00%
CCB 1
2.50%
2.50%
CCB 2.50%
3.26%
Pillar 2R
3.00%
Pillar 2R 1.69%
1.83%
Tier 2
2.00%
2.00%
AT1
1.50%
1.50%
Total
Pillar 1
4.50%
4.50%
Pillar 1
Pillar 1
4.50%
of 8%
4.50%
1)
2)
2021
2022
2021
2022
SREP Requirement
CET1 and Total capital ratio minimum capital requirements for 2022 set at to 10.08% and 15.01% respectively, following c.26 bps² add-on in P2R
due to ECB's prudential provisioning expectations and 25 bps phasing in of O-SII buffer
P2R add-on is dynamic and can be reduced during 2022 on the basis of in-scope NPEs and level of provisioning
.
Decrease in P2G more than offsets P2R increase in CET1 ratio
•
Total O-SII buffer reduced by 50 bps to 1.5%; phasing-in of 25 bps on 1 January 2022 and 1 January 2023
•
New SREP requirements are effective from 1 March 2022
In accordance with the legislation in Cyprus which has been set for all credit institutions the applicable rate of the CCB was fully phased in at 2.5% in 2019
Takes into consideration Helix 3
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