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Pillar 2 requirement

The Pillar 2 requirement (P2R) is a bank-specific capital requirement which applies in addition to, and covers risks which are underestimated or not covered by, the minimum capital requirement (known as Pillar 1). A bank’s P2R is determined on the basis of the Supervisory Review and Evaluation Process (SREP). That requirement is legally binding, and if institutions fail to comply with it they can be subject to supervisory measures (including sanctions).

In addition to complying with the P2R, institutions are also expected to follow the Pillar 2 guidance (P2G) issued by the ECB. A bank’s P2G indicates the level of capital that it should maintain in order to be able to withstand financial stress. Unlike the P2R, the P2G is not legally binding, as it only reflects supervisory expectations.

Under Articles 431(1), 433a(1) and 438(b) of the Capital Requirements Regulation (CRR), large institutions (as defined in Article 4(1)(146) of the CRR) are required to disclose their P2Rs on an annual basis.

In 2019, the ECB recommended that significant banks consider publishing the size and composition of their P2Rs as part of their disclosure practices. The ECB also communicated its intention to publish the consolidated P2R of every bank or banking group that it supervised, and it invited banks that had not already disclosed their P2Rs to approve their publication by the ECB.

In response to the coronavirus pandemic, the ECB announced on 12 March 2020 that banks would be allowed – in addition to Common Equity Tier 1 (CET1) capital – to also use Additional Tier 1 and Tier 2 instruments to comply with their P2Rs, in line with the arrangements for Pillar 1. Thus, Additional Tier 1 and Tier 2 instruments could be used by institutions to meet their P2Rs, provided that at least 56.25% of the P2R capital was in CET1 and at least 75% was in Tier 1. Those rules on the composition of P2R capital were already due to take effect in January 2021 when Capital Requirements Directive V (Directive (EU) 2019/878) entered into force, but were effectively brought forward by that decision.

The table below shows, for 2019, 2020 and 2021, the significant institutions that were supervised by the ECB and their P2Rs. For this SREP cycle, consent to publish this information has been obtained from all banks which received a SREP 2021 decision.

This table was last updated on 5 August 2022.

Download the data

Pillar 2 requirement
Name of institution 2019 P2R
applicable in 2020
2020 P2R
applicable in 2021
2021 P2R
applicable in 2022
Total of which,
minimum CET1
(from 12.3.2020)
Total of which,
minimum CET1
Total of which,
minimum CET1
Aareal Bank AG 2.25% 1.27% 2.25% 1.27% 2.75% 1.55%
AB SEB bankas 2.00% 1.13% 2.00% 1.13% 2.00% 1.13%
ABANCA Corporación Bancaria S.A. 1.75% 0.98% 1.75% 0.98% 2.00% 1.13%
ABN AMRO Bank N.V. 2.00% 1.13% 2.00% 1.13% 2.00% 1.13%
Addiko Bank AG n.a. n.a. n.a. n.a. 3.25% 1.83%
Agri Europe Cyprus Limited n.a. n.a. n.a. n.a. 3.25% 1.83%
AIB Group plc 3.00% 1.69% 3.00% 1.69% 2.75% 1.55%
Akcinė bendrovė Šiaulių bankas n.a. n.a. 1.60% 0.90% 1.60% 0.90%
ALPHA SERVICES AND HOLDINGS S.A. 3.00% 1.69% 3.00% 1.69% 3.00% 1.69%
AS “Citadele banka” n.a. n.a. n.a. n.a. 2.50% 1.41%
AS “SEB banka” 2.25% 1.27% 2.25% 1.27% 2.00% 1.13%
AS SEB Pank 2.25% 1.27% 2.25% 1.27% 2.00% 1.13%
AXA Bank Belgium SA 2.75% 1.55% 2.75% 1.55% 2.25% 1.27%
Banca Carige S.p.A. – Cassa di Risparmio di Genova e Imperia 2.75% 1.55% 2.75% 1.55% 3.25% 1.83%
BANCA MONTE DEI PASCHI DI SIENA S.p.A. 3.00% 1.69% 2.75% 1.55% 2.75% 1.55%
Banca Popolare di Sondrio, Società Cooperativa per Azioni 3.00% 1.69% 3.00% 1.69% 2.77% 1.56%
Banco Bilbao Vizcaya Argentaria, S.A. 1.50% 0.84% 1.50% 0.84% 1.50% 0.84%
Banco BPM S.p.A. 2.25% 1.27% 2.25% 1.27% 2.25% 1.27%
Banco Comercial Português, SA 2.25% 1.27% 2.25% 1.27% 2.50% 1.41%
Banco de Crédito Social Cooperativo, S.A. 2.50% 1.41% 2.50% 1.41% 2.50% 1.41%
Banco de Sabadell, S.A. 2.25% 1.27% 2.25% 1.27% 2.15% 1.21%
Banco Santander, S.A. 1.50% 0.84% 1.50% 0.84% 1.50% 0.84%
BANK OF AMERICA EUROPE DESIGNATED ACTIVITY COMPANY 2.30% 1.29% 2.30% 1.29% 2.20% 1.24%
Bank of Cyprus Holdings Public Limited Company 3.00% 1.69% 3.00% 1.69% 3.26% 1.83%
Bank of Ireland Group plc 2.25% 1.27% 2.25% 1.27% 2.25% 1.27%
Bank of Valletta plc 3.25% 1.83% 3.25% 1.83% 3.00% 1.69%
Bankinter, S.A. 1.20% 0.68% 1.20% 0.68% 1.29% 0.73%
Banque Degroof Petercam SA 3.00% 1.69% 3.00% 1.69% 2.50% 1.41%
Banque et Caisse d’Epargne de l’Etat, Luxembourg 1.00% 0.56% 1.00% 0.56% 1.28% 0.72%
Banque Internationale à Luxembourg S.A. 1.75% 0.98% 1.75% 0.98% 2.00% 1.13%
Barclays Bank Ireland PLC1 3% + 0.3%/€100m (whichever is higher) 1.69% 3% + 0.3%/€100m (whichever is higher) 1.69% n.a. n.a.
BAWAG Group AG 2.00% 1.13% 2.00% 1.13% 2.00% 1.13%
Bayerische Landesbank 2.00% 1.13% 2.00% 1.13% 2.00% 1.13%
Belfius Banque SA 2.00% 1.13% 2.00% 1.13% 2.13% 1.20%
BFA Tenedora de Acciones S.A.U.2 2.00% 1.13% 2.00% 1.13% n.a. n.a.
Biser Topco S.à.r.l. (Nova Kreditna Banka Maribor d.d.) 3.00% 1.69% 3.00% 1.69% 2.30% 1.29%
BNG Bank N.V. 2.25% 1.27% 2.25% 1.27% 2.00% 1.13%
BNP Paribas S.A. 1.25% 0.70% 1.25% 0.70% 1.32% 0.74%
BPCE S.A. 1.75% 0.98% 1.75% 0.98% 2.00% 1.13%
BPER Banca S.p.A. 2.00% 1.13% 2.00% 1.13% 2.30% 1.29%
Bpifrance S.A. (Banque Publique d’Investissement) 1.50% 0.84% 1.50% 0.84% 1.88% 1.06%
C.R.H. - Caisse de Refinancement de l’Habitat 0.75% 0.42% 0.75% 0.42% 0.75% 0.42%
CaixaBank, S.A.3 1.50% 0.84% 1.50% 0.84% 1.65% 0.93%
Caixa Geral de Depósitos, SA 2.25% 1.27% 2.25% 1.27% 2.00% 1.13%
Cassa Centrale Banca – Credito Cooperativo Italiano S.p.A. 2.25% 1.27% 2.25% 1.27% 2.50% 1.41%
Citibank Holdings Ireland Limited 2.70% 1.52% 2.70% 1.52% 2.50% 1.41%
COMMERZBANK Aktiengesellschaft 2.00% 1.13% 2.00% 1.13% 2.00% 1.13%
Confédération Nationale du Crédit Mutuel 1.75% 0.98% 1.75% 0.98% 1.75% 0.98%
Coöperatieve Rabobank U.A. 1.75% 0.98% 1.75% 0.98% 1.90% 1.07%
Crédit Agricole S.A. 1.50% 0.84% 1.50% 0.84% 1.50% 0.84%
Credito Emiliano Holding S.p.A. 1.00% 0.56% 1.00% 0.56% 1.00% 0.56%
de Volksbank N.V. 2.50% 1.41% 2.50% 1.41% 3.00% 1.69%
DekaBank Deutsche Girozentrale 1.50% 0.84% 1.50% 0.84% 1.50% 0.84%
Deutsche Apotheker- und Ärztebank eG 1.25% 0.70% 1.25% 0.70% 2.50% 1.41%
Deutsche Bank AG 2.50% 1.41% 2.50% 1.41% 2.50% 1.41%
Deutsche Pfandbriefbank AG 2.50% 1.41% 2.50% 1.41% 2.50% 1.41%
DSK Bank AD4 n.a. n.a. n.a. n.a. 1.80% 1.01%
DZ BANK AG Deutsche Zentral-Genossenschaftsbank 1.75% 0.98% 1.75% 0.98% 1.70% 0.96%
Erste Group Bank AG 1.75% 0.98% 1.75% 0.98% 1.75% 0.98%
Erwerbsgesellschaft der S-Finanzgruppe mbH & Co. KG 1.50% 0.84% 1.50% 0.84% 1.75% 0.98%
Eurobank Ergasias Services and Holdings S.A. 3.00% 1.69% 3.00% 1.69% 3.00% 1.69%
Goldman Sachs Bank Europe SE n.a. n.a. 3.00% 1.69% 3.00% 1.69%
Hamburg Commercial Bank AG 2.75% 1.55% 2.75% 1.55% 2.07% 1.16%
HASPA Finanzholding 1.00% 0.56% 1.00% 0.56% 1.25% 0.70%
Hellenic Bank Public Company Limited 3.20% 1.80% 3.20% 1.80% 3.45% 1.94%
HSBC Bank Malta p.l.c. 2.25% 1.27% 2.25% 1.27% 2.25% 1.27%
HSBC Group in Continental Europe 3.00% 1.69% 3.00% 1.69% 3.24% 1.82%
Ibercaja Banco, S.A. 2.00% 1.13% 2.00% 1.13% 2.15% 1.21%
Iccrea Banca S.p.A. - Istituto Centrale del Credito Cooperativo 2.50% 1.41% 2.50% 1.41% 2.83% 1.59%
ING Groep N.V. 1.75% 0.98% 1.75% 0.98% 1.75% 0.98%
Intesa Sanpaolo S.p.A. 1.50% 0.84% 1.50% 0.84% 1.79% 1.01%
Investeringsmaatschappij Argenta NV 1.75% 0.98% 1.75% 0.98% 1.50% 0.84%
J.P. Morgan SE5 n.a. n.a. 3.25% 1.83% 2.75% 1.55%
J.P. Morgan Bank Luxembourg S.A.5 2.25% 1.27% 2.25% 1.27% 2.25% 1.27%
KBC Group NV 1.75% 0.98% 1.75% 0.98% 1.86% 1.05%
Kuntarahoitus Oyj 2.25% 1.27% 2.25% 1.27% 2.00% 1.13%
Kutxabank, S.A. 1.20% 0.68% 1.20% 0.68% 1.20% 0.68%
La Banque Postale 2.00% 1.13% 2.00% 1.13% 2.00% 1.13%
Landesbank Baden-Württemberg 1.75% 0.98% 1.75% 0.98% 1.88% 1.06%
Landesbank Hessen-Thüringen Girozentrale 1.75% 0.98% 1.75% 0.98% 1.75% 0.98%
Liberbank, S.A.6 2.50% 1.41% 2.50% 1.41% n.a. n.a.
LP Group B.V. n.a. n.a. n.a. n.a. 3.90% 2.19%
LSF Nani Investments S.à.r.l. (Novo Banco, S.A.)7 3.00% 1.69% 3.00% 1.69% 3.00% 1.69%
Luminor Holding AS 2.00% 1.13% 2.00% 1.13% 2.20% 1.24%
MDB Group Limited 3.00% 1.69% 3.00% 1.69% 3.00% 1.69%
Mediobanca - Banca di Credito Finanziario S.p.A. 1.25% 0.70% 1.25% 0.70% 1.58% 0.89%
Morgan Stanley Europe Holding SE n.a. n.a. 2.75% 1.55% 2.75% 1.55%
Münchener Hypothekenbank eG 1.50% 0.84% 1.50% 0.84% 1.75% 0.98%
National Bank of Greece S.A. 3.00% 1.69% 3.00% 1.69% 3.00% 1.69%
Nederlandse Waterschapsbank N.V. 2.25% 1.27% 2.25% 1.27% 2.00% 1.13%
Norddeutsche Landesbank -Girozentrale 2.50% 1.41% 2.50% 1.41% 2.50% 1.41%
Nordea Bank Abp 1.75% 0.98% 1.75% 0.98% 1.75% 0.98%
Nova Ljubljanska banka d.d. Ljubljana 2.75% 1.55% 2.75% 1.55% 2.60% 1.46%
OP Osuuskunta 2.25% 1.27% 2.25% 1.27% 2.25% 1.27%
Piraeus Financial Holdings S.A. 3.25% 1.83% 3.25% 1.83% 3.00% 1.69%
Quintet Private Bank (Europe) S.A.8 2.00% 1.13% 2.00% 1.13% 2.75% 1.55%
Raiffeisen Bank International AG 2.25% 1.27% 2.25% 1.27% 2.20% 1.24%
Raiffeisenbankengruppe OÖ Verbund eGen 1.75% 0.98% 1.75% 0.98% 2.00% 1.13%
RBC Investor Services Bank S.A. 2.00% 1.13% 2.00% 1.13% 2.10% 1.18%
RCB Bank LTD 3.50% 1.97% 3.50% 1.97% 3.50% 1.97%
RCI Banque SA8 2.00% 1.13% 2.00% 1.13% 2.01% 1.13%
Sberbank Europe AG 3.25% 1.83% 3.25% 1.83% 3.25% 1.83%
SFIL S.A. 0.75% 0.42% 0.75% 0.42% 0.75% 0.42%
Société Générale S.A. 1.75% 0.98% 1.75% 0.98% 2.12% 1.19%
State Street Europe Holdings Germany S.à.r.l. & Co. KG 2.00% 1.13% 2.00% 1.13% 2.40% 1.35%
Swedbank AS 2.00% 1.13% 2.00% 1.13% 1.80% 1.01%
“Swedbank” AS 1.70% 0.96% 1.70% 0.96% 1.80% 1.01%
“Swedbank”, AB 1.80% 1.01% 1.80% 1.01% 1.80% 1.01%
The Bank of New York Mellon SA 2.00% 1.13% 2.00% 1.13% 2.00% 1.13%
UBS Europe SE n.a. n.a. 2.50% 1.41% 2.25% 1.27%
Ulster Bank Ireland Designated Activity Company 3.50% 1.97% 3.50% 1.97% 3.60% 2.03%
Unicaja Banco, S.A.9 1.75% 0.98% 1.75% 0.98% n.a. n.a.
UniCredit S.p.A. 1.75% 0.98% 1.75% 0.98% 1.75% 0.98%
Volksbank Wien AG 2.50% 1.41% 2.50% 1.41% 2.50% 1.41%
Volkswagen Bank GmbH 2.00% 1.13% 2.00% 1.13% 2.25% 1.27%
  1. Owing to the comprehensive nature of its assessment exercise, the SREP 2021 decision for Barclays Bank Ireland PLC has been postponed.
  2. BFA Tenedora de Acciones S.A.U. ceased to be a supervised entity in 2021.
  3. Because BFA Tenedora de Acciones S.A.U. merged with CaixaBank, S.A. in March 2021, no SREP was carried out for CaixaBank, S.A. in 2021. A decision amending the P2R in the currently applicable decision establishing prudential requirements was issued to CaixaBank, S.A. in June 2021.
  4. DSK Bank AD SREP P2R was published on 5 May 2022.
  5. As of 24 January 2022, J.P. Morgan Bank Luxembourg S.A. merged into J.P. Morgan SE.
  6. Liberbank, S.A. ceased to be a supervised entity in 2021.
  7. LSF Nani Investments S.à.r.l. is an EU parent financial holding company that has Novo Banco, S.A. as an indirect subsidiary. The P2R is only applicable at the level of the sub-group of which Novo Banco, S.A. is the parent undertaking.
  8. Quintet Private Bank (Europe) S.A.and RCI Banque SA P2R was updated on 5 August 2022, following the exercise of the dynamic approach clause included in the 2021 SREP decisions.
  9. As a result of the merging of Liberbank, S.A and Unicaja Banco, S.A., the SREP 2021 decision for Unicaja Banco, S.A. will be issued at a later date.
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