Pillar 2 Requirement (P2R)

The Pillar 2 Requirement (P2R) is a 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). P2Rs are binding and breaches can have direct legal consequences for banks. The P2R is determined via the Supervisory Review and Evaluation Process (SREP). The capital demand resulting from the SREP also includes the Pillar 2 Guidance (P2G), which indicates to banks the adequate level of capital to be maintained to provide a sufficient buffer to withstand stressed situations. Unlike the P2R, the P2G is not legally binding.

The new Capital Requirements Regulation aims to strengthen market discipline and to ensure that investors and depositors are well informed about institutions’ capital positions. In this context, according to Articles 431(1), 433a(1) and 438(b) as introduced by CRR II, large institutions (as defined in Article 4(1)(146) CRR (as amended by CRR II)) shall disclose their Pillar 2 Requirements on an annual basis.

The ECB has recommended that significant institutions consider disclosing the amount of additional own funds and its composition as part of their disclosure practices. The ECB also communicated its intention to publish the consolidated P2Rs of each bank or banking group, and invited banks that have not already disclosed their P2Rs to approve their publication by the ECB.

The table below lists the names of the significant institutions[1] along with their P2Rs (100% CET1 add-ons) determined during the 2019 Supervisory Review and Evaluation Process cycle, to be applicable from Q1 2020. The significant institutions listed have either already disclosed their P2Rs, or have not done so but have given their consent to the ECB to publish them.

The table was updated on 30 January 2020.

P2R results

Institution name
2019 P2R all in CET1
applicable in 2020
Aareal Bank AG 2.25%
AB SEB bankas 2.00%
ABANCA Corporación Bancaria S.A. 1.75%
Abanka d.d. 3.50%
ABN AMRO Bank N.V. 2.00%
AIB Group plc 3.00%
Alpha Bank AE 3.00%
AS "SEB banka" 2.25%
AS SEB Pank 2.25%
AS Swedbank 1.70%
AXA Bank Belgium SA 2.75%
Banca Popolare di Sondrio, Societá Cooperativa per Azioni 3.00%
Banco Bilbao Vizcaya Argentaria, S.A. 1.50%
Banco BPM S.p.A. 2.25%
Banco Comercial Portugués, SA 2.25%
Banco de Crédito Social Cooperativo, S.A. 2.50%
Banco de Sabadell, S.A. 2.25%
Banco Santander, S.A. 1.50%
Bank of America Merrill Lynch International Designated Activity Company 2.30%
Bank of Cyprus Holdings Public Limited Company 3.00%
Bank of Ireland Group plc 2.25%
Bank of Valletta plc 3.25%
Bankinter, S.A. 1.20%
Banque Degroof Petercam SA 3.00%
Banque et Caisse d'Epargne de l'Etat, Luxembourg 1.00%
Banque Internationale á Luxembourg S.A. 1.75%
Barclays Bank Ireland PLC 3% + Max (0.3% or € 100 M)
BAWAG Group AG 2.00%
Bayerische Landesbank 2.00%
Belfius Bank NV 2.00%
BFA Tenedora de Acciones S.A.U. 2.00%
Biser Topco S.à.r.l. 3.00%
BNG Bank N.V. 2.25%
BNP Paribas S.A. 1.25%
BPCE S.A. 1.75%
BPER Banca S.p.A. 2.00%
Bpifrance S.A. (Banque Publique d'Investissement) 1.50%
C.R.H. - Caisse de Refinancement de l'Habitat 0.75%
Caixa Geral de Depósitos, SA 2.25%
CaixaBank, S.A. 1.50%
Cassa Centrale Banca - Credito Cooperativo Italiano S.p.A. 2.25%
Citibank Holdings Ireland Limited 2.70%
COMMERZBANK Aktiengesellschaft 2.00%
Confédération Nationale du Crédit Mutuel 1.75%
Coöperatieve Rabobank U.A. 1.75%
Crédit Agricole S.A. 1.50%
Credito Emiliano Holding S.p.A. 1.00%
de Volksbank N.V. 2.50%
DekaBank Deutsche Girozentrale 1.50%
Deutsche Apotheker- und Ärztebank eG 1.25%
Deutsche Bank AG 2.50%
Deutsche Pfandbriefbank AG 2.50%
Dexia SA 3.25%
DZ BANK AG Deutsche Zentral-Genossenschaftsbank 1.75%
Erste Group Bank AG 1.75%
Eurobank Ergasias S.A. 3.00%
Hamburg Commercial Bank AG 2.75%
HASPA Finanzholding 1.00%
Hellenic Bank Public Company Limited 3.20%
HSBC Bank Malta p.l.c. 2.25%
HSBC France 3.00%
Ibercaja Banco, S.A. 2.00%
Iccrea Banca S.p.A. - Istituto Centrale del Credito Cooperativo 2.50%
ING Groep N.V. 1.75%
Intesa Sanpaolo S.p.A. 1.50%
Investeringsmaatschappij Argenta NV 1.75%
J.P. Morgan Bank Luxembourg S.A. 2.25%
KBC Group NV 1.75%
KBL European Private Bankers S.A. 2.00%
Kuntarahoitus Oyj 2.25%
Kutxabank, S.A. 1.20%
La Banque Postale 2.00%
Landesbank Baden-Württemberg 1.75%
Landesbank Berlin AG 1.50%
Landesbank Hessen-Thüringen Girozentrale 1.75%
Liberbank, S.A. 2.50%
LSF Nani Investments S.à.r.l. 3.00%
Luminor Bank AS 2.00%
MDB Group Limited 3.00%
Mediobanca - Banca di Credito Finanziario S.p.A. 1.25%
Münchener Hypothekenbank eG 1.50%
National Bank of Greece S.A. 3.00%
Nederlandse Waterschapsbank N.V. 2.25%
Nordea Bank Abp 1.75%
Nova Ljubljanska banka d.d. Ljubljana 2.75%
OP Osuuskunta 2.25%
Piraeus Bank S.A. 3.25%
Raiffeisen Bank International AG 2.25%
Raiffeisenbankengruppe OÖ Verbund eGen 1.75%
RBC Investor Services Bank S.A. 2.00%
RCB Bank LTD 3.50%
RCI Banque SA 2.00%
Sberbank Europe AG 3.25%
SFIL S.A. 0.75%
Slovenská sporitel'ňa, a.s. 1.50%
Société Générale S.A. 1.75%
State Street Europe Holdings Germany S.a.r.l. & Co. KG 2.00%
Swedbank AS 2.00%
Swedbank, AB 1.80%
Tatra banka, a.s. 1.50%
The Bank of New York Mellon SA 2.00%
Ulster Bank Ireland Designated Activity Company 3.50%
Unicaja Banco, S.A. 1.75%
UniCredit S.p.A. 1.75%
Unione di Banche Italiane Società per Azioni 2.25%
Volksbank Wien AG 2.50%
Volkswagen Bank GmbH 2.00%
Všeobecná úverová banka, a.s 1.50%
[1]As of 1 December 2019, the SSM is supervising 117 significant institutions (SIs). Further details in the press release: ECB will directly supervise 117 banks in 2020.
Of these 117, 8 SIs are not included in the bank-specific P2R table (UBS Europe SE, J.P. Morgan AG, Morgan Stanley Europe Holding SE, Goldman Sachs Bank Europe SE, Akcinė bendrovė Šiaulių bankas, AS “PNB Banka”, Banca Carige S.p.A. - Cassa di Risparmio di Genova e Imperia, Norddeutsche Landesbank –Girozentrale) for one of the following reasons: i) designated as significant institution late 2019/beginning of 2020, therefore no 2019 SREP decision has been made, or ii) 2019 SREP decision later during 2020.