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Bpce: Annual update of Groupe BPCE's MREL requirements
Paris, March 30, 2021
Annual update of Groupe BPCE's MREL requirements
Groupe BPCE manages its MREL1 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.
The updated total MREL requirement is set in the notification at 25.0% of the Group's risk-weighted assets or RWAs. It is set at 6.2% of the leverage ratio exposure.
With regard to the subordination requirement, Groupe BPCE complies with articles 92a 1. (a) and 494 of CRR regulation n ° 575/2013 providing for a requirement of 19.5% of RWAs, which will increase to 21.5% in 2022.
The subordination requirement based on the leverage ratio exposure is set in the notification at 6.2% and will increase to 6.75% in 2022 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 30.2% based on RWAs at the end of December 2020 and the Group's subordinated MREL ratio (similar to the TLAC ratio) was 23.6% at the end of December 2020. These ratios were respectively 10.5% and 8.2% of the leverage ratio exposure at the end of December 2020.
About Groupe BPCE
Groupe BPCE, with its business model as a universal cooperative bank represented by 9 million cooperative shareholders, is currently the 2nd-largest banking group in France. With its 100,000 employees, it serves a total of 36 million customers – individuals, professionals, corporates, investors, and local government bodies – around the world. It operates in the retail banking and insurance sectors in France via its two major Banque Populaire and Caisse d’Epargne banking networks, along with Banque Palatine. With Natixis, it also runs global business lines specializing in Asset & Wealth management, Corporate & Investment Banking, Insurance and Payments. Through this structure, it is able to offer its customers a comprehensive, diversified range of products and services: solutions in savings, investment, cash management, financing, and insurance. The Group's financial strength is recognized by four financial rating agencies: The Group's financial strength is recognized by four financial rating agencies: Moody's (A1, stable outlook), Standard & Poor's (A+, negative outlook), Fitch (A+, negative outlook) and R&I (A+, stable outlook).
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1 Minimum Requirement for Own Funds and Eligible Liabilities
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