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08 Aug 2022 14:55 | Relevant information
BFF receives its new SREP requirements
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Bank of Italy informed BFF on its capital decision, following the conclusion of the supervisory review and evaluation process (“SREP”)

Milan, 8th August 2022 – Today Bank of Italy informed BFF Bank S.p.A. (“BFF” or the “Bank”) of its decision on the new capital requirements, following the conclusion of the supervisory review and evaluation process (“SREP”). The communication from Bank of Italy requires that, starting from the next own funds regulatory reporting, BFF will adopt the following consolidated capital ratios:

  • Common Equity Tier 1 (CET 1 ratio) of 9.00%, composed of a binding measure of 6.50% (of which 4.50% of minimum regulatory requirements and 2.00% of additional requirements determined as a result of the SREP), and, for the rest, of the capital conservation buffer component;
  • Tier 1 (Tier 1 ratio) of 10.50%, composed of a binding measure of 8.00% (of which 6.00% of minimum regulatory requirements and 2.00% of additional requirements determined as a result of the SREP), and, for the rest, of the capital conservation buffer component;
  • Total Capital Ratio (TC ratio) of 12.50%, composed of a binding measure of 10.00% (of which 8.00% of minimum regulatory requirements and 2.00% of additional requirements determined as a result of the SREP), and, for the rest, of the capital conservation buffer component.

At a consolidated level, as of 30th June 2022, the Bank had a CET1 ratio of 15.1% (vs. a SREP requirement of 9.0%), and a Tier 1 ratio and a TC ratio of 21.2% (vs. a SREP requirements of respectively 10.5% and 12.5%).