The European Central Bank (ECB) has informed Abanca of an increase in its minimum capital requirements for the next financial year, stemming from the entry into force of the new level of the countercyclical buffer.
In particular, the entity has seen its requirements rise automatically after the buffer percentage linked to its exposures in Spain moved from the 0.36% in force until now to 0.88%. This adjustment is due to the buffer being set at 1% as of this month of October.
In addition, the Pillar 2 requirement has increased by one thousandth, rising from 1.069% to 1.07%, while the rest of the regulatory requirements remain unchanged.
As a result, Abanca will have to maintain from January a minimum CET1 capital of 8.95%, which represents an additional 0.52 percentage points. By the same amount, the total capital requirement has increased, now standing at 13.28%.