2023-12-01 07:42:13
(Alliance News) – Credito Emiliano Spa announced on Friday that the European Central Bank has once once more confirmed, for 2024, Credem’s Pillar 2 requirement at 1%, placing it among the best in Italy and Europe among the large banks directly supervised by Frankfurt.
The Pillar 2 requirement arises from the annual SREP analysis – Supervisory review and evaluation process – which thus reaffirmed the robustness of Credito Emiliano’s business model and risk management controls.
Consequently, Credem writes in a note, the overall capital requirement, which indicates the minimum level of capital to be respected for the activities carried out by the group and to protect savers, for 2024, amounts to 7.60%. for the CET 1 ratio.
The requirements for the Tier 1 and Tier Total ratio are set at 9.29% and 11.54% respectively.
As of September 30, the CET1 ratio at Credemholding was 14.8%.
In addition, Credem “was confirmed by the ECB among the strongest institutions at the continental level also in the stress tests published on July 28 with the aim of verifying the resilience of the European banking system to unfavorable scenarios”, specified the company in a note.
The group, in particular, ranks among the top five European credit institutions, both among those in the ECB sample and among those involved by the European Banking Authority.
In detail, the company specifies that “the Credem presents an impact on the capital strength ratios arising from a strongly negative potential economic scenario of less than 300 basis points, which compares to the approximately less 660 basis points of the 41 banks in the sample and at least 460 basis points of the 57 euro area banks in the scope supervised by the EBA. The overall average was minus 480 basis points.
Credem shares closed in the red on Thursday, with a drop of 0.2%, to 8.16 euros per share.
By Chiara Bruschi, journalist at Alliance News
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