PARIS--(BUSINESS WIRE)--Regulatory News:
As a result of the annual Supervisory Review and Evaluation Process (SREP), the European Central Bank (ECB) has set to 3.00% the minimum capital requirement under Pillar 2 (P2R) for HSBC France for the year 2020.
HSBC France will be required to meet on a consolidated basis a minimum total capital ratio of at least 13.75%, from January 1st, 2020. The Overall capital requirement (OCR) is composed of: the 8% minimum capital in respect of article 92.1 of the 575/2013 Regulation, the 2.50% for the Conservation buffer in respect of article 129 of the 2013/36 Directive, the 3.00% Pillar 2 requirement mentioned above and a countercyclical buffer of 0.25% based on the estimated current levels.
The requirement in respect of Common equity tier 1 is 10.25%, excluding Pillar 2 guidance (P2G).
As at June 30, 2019, HSBC France’s fully loaded total capital ratio was 16.6% and fully loaded CET1 ratio was 13.4%.
Note to editors
HSBC in France
HSBC France is a subsidiary of the HSBC Group. The head office of HSBC France is located in Paris. Since 1 April 2019, HSBC France now includes, in addition to its universal banking activities in France, the activities of 9 European branches (Belgium, Czech Republic, Greece, Ireland, Italy, Luxembourg, Netherlands, Poland and Spain). In France, HSBC's strategy is to develop a modernised universal banking model, differentiating itself on its unique international network, and leveraging its Markets positioning as the Euro platform for the HSBC Group.
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 65 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,751bn at 30 June 2019, HSBC is one of the world’s largest banking and financial services organisations.