THE HAGUE, Netherlands, Dec. 24, 2019 /PRNewswire/ -- As part of the annual Supervisory Review and Evaluation Process (SREP), the European Central Bank sets the total SREP capital requirement for BNG Bank at 10.25%, effective as of 1 January 2020.
This total SREP capital requirement consists of (i) the minimum CET1 requirement under Pillar 1 (4.5%), (ii) the Pillar 1 Additional Tier 1 requirement (1.5%), (iii) the Pillar 1 Tier 2 requirement (2%), (iv) the Pillar 2 CET1 capital requirement (Pillar 2 requirement, 2.25%). Including the buffer requirements (the capital conservation buffer (CCB, 2.5% CET1), the countercyclical buffer (CCY, 0.08%) and the Other Systemic Important Institution buffer (OSII, 1.00%)), this results in an Overall Capital Requirement of 13.83%.
As of 30 June 2019, the Tier 1 capital ratio amounts to 38%. As such, BNG Bank's capitalization is substantially above the ECB requirement.
BNG Bank is a committed partner for a more sustainable world. We enable the public sector to achieve social objectives. With a balance sheet of more than EUR 140 billion, we are the fourth-largest bank in the Netherlands and a relevant financier for local authorities and institutions for housing, healthcare, education, energy and infrastructure in the Netherlands. Rather than maximum profit, BNG Bank seeks to achieve a fair return on equity for its public shareholders.
For further information, please contact: Robert Bakker, spokesman +31-(0)70-3750609 robert.bakker@bngbank.nl
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