Investor Presentaiton
HIGH BUFFERS OF LIQUIDITY AND MREL ELIGIBLE DEBT
High liquidity reserves (1)
_ In EUR bn
Strong MREL ratio
% RWA
296
275
279
29
255
237
244
24
10
228
227
229
51
5
56
2
10
1
2
3
60
59
73
61
80
64
58
LCR
214
eligible
212
163
147
161
168
173
189
195
Q1 21 Q2 21
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
Q4 22
Q1 23
Central Bank
Deposits
High Quality Liquid
Asset Securities
Central Bank Eligible
Assets
EUR bn
34.3%
EUR 124bn
4.1%
15
SP
SNP
25.4%
(3)
10.1%
36
T2
AT1
| CET1
3.5%
13
3%
11
EUR 109bn
O.W.
junior
debt
20.7%
13.5%
49
19
Req. March
2023
31.03.2023
31.03.2023
Strong liquidity reserves over time further strengthened since end 2022:
. Significant amount of cash at Central Banks (EUR 212bn as of 31 March 2023
vs. EUR 195bn as of 31 December 2022)
.HQLA (EUR 56bn net of haircuts) mostly composed of highly rated sovereign
debts, which are hedged against interest rate risk
High Liquidity Coverage Ratio at 171% end of period (+30 pts vs Q4 22) (2)
MREL ratio well above requirement (o/w EUR 109bn of junior debt)
AT1 and T2 buckets comfortably above minimum requirements
2023 long term funding programme well advanced (>70%) (4)
with EUR 2.4bn of AT1, EUR 1bn of T2, EUR 5.2bn of SNP and a
total of EUR 9.4bn of senior preferred and covered bonds
(1) Unencumbered, net of haircuts, (2) 169% on average in Q1 23 (+24 pts vs Q4 22), (3) Tier 2 capital computed for TLAC / MREL differ from T2 capital for total capital ratio due to TLAC / MREL eligibility rules, (4) Vanilla programme
N.B phased-in ratio
SOCIETE
GENERALE
1ST QUARTER 2023 RESULTS | 12 MAY 2023View entire presentation