Societe Generale announced on Friday that the capital requirements set by the European Central Bank (ECB) for January 1, 2021 were unchanged, ensuring that it had a "comfortable" margin in this area.

The European Central Bank has notified Societe Generale of the additional capital requirement under the P2R (Pillar 2 requirement) from 1 January 2021. The latter is unchanged and stands at 1.75%. Taking into account the different regulatory buffers, the minimum requirements applicable to Societe Generale on a consolidated basis are 9.03% for the hard capital ratio (CET1), 10.86% for the Tier 1 ratio and 13.29% for the Total Capital ratio, respectively. "With a Group CET1 ratio of 13.2% as at 30 September 2020, the Group enjoys a comfortable margin of approximately 420 basis points above the threshold for triggering distribution limitations," Societe Generale said.