Banco Santander S.A. 2018 prudential minimum capital requirements (7047Z)
19 December 2017 - 4:03AM
UK Regulatory
TIDMBNC
RNS Number : 7047Z
Banco Santander S.A.
18 December 2017
MATERIAL FACT
Banco Santander, S.A. ("Santander") has been informed by the
European Central Bank ("ECB") on its decision regarding prudential
minimum capital requirements as of 1(st) of January 2018, following
the results of the Supervisory Review and Evaluation Process
(SREP).
The ECB decision requires that Santander maintains a Common
Equity Tier 1 (CET1) phased-in ratio of at least 8.655% on a
consolidated basis. This requirement compares to Santander's last
reported consolidated CET1 ratio of 12.18% as of 30 September
2017.
This CET1 capital requirement of 8.655% includes: the Pillar 1
requirement (4.5%); the Pillar 2 requirement (1.5%); the capital
conservation buffer (1.875%); the requirement deriving from its
consideration as a global systemic financial institution (0.75%);
and the counter-cyclical buffer (0.03%).
On an individual basis the ECB requires that Santander maintains
a CET1 phased-in ratio of at least 7.875%. This requirement
compares to Santander's last reported individual CET1 ratio of
18.01% as of 30 September 2017.
Additionally, and once considered the minimum Pillar 1
requirement of Additional Tier 1 (1.5%) and Tier 2 (2%), Santander
is required to maintain a total capital phased-in ratio of at least
12.155% on a consolidated basis and 11.375% on an individual level.
These requirements compare to Santander's last reported total
capital ratios as of 30 September 2017 of 14.89% and 21.75%,
respectively.
On a fully loaded basis, the consolidated requirements amount to
9.53% CET1, and 13.03% Total Capital. Santander's capital ratios as
of 30 September 2017 were 10.80% and 14.38%, respectively.
Taking into account Santander's consolidated and individual
current capital levels, these capital requirements do not imply any
limitations on distributions in the form of dividends, variable
remuneration and coupon payments to holders of Additional Tier 1
instruments.
Boadilla del Monte (Madrid), 18 December 2017
This information is provided by RNS
The company news service from the London Stock Exchange
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