(Alliance News) - Banca Monte dei Paschi di Siena Spa announced Monday that the European Central Bank has announced new SREP requirements for the bank.

Significantly reducing is the Pillar II Capital Guidance "P2G," set at 1.15 percent from current levels of 2.50 percent, reflecting the positive outcomes of the EBA Stress Test conducted in 2023.

The overall minimum requirement in terms of Common Equity Tier 1 ratio is reduced to 8.56 percent and the overall minimum requirement in terms of Total Capital ratio is 13.27 percent.

As of September 30, MPS had a CET1 ratio of 16.7 percent and a Total Capital ratio of 20.2 percent.

In addition, MPS points out in the statement that as a result of the process carried out by the Bank of Italy for the identification of authorized Institutions of National Systemic Importance in Italy for 2024 recently concluded, the Bank is no longer identified as an O-SII and therefore, as of January 1, 2024, the requirement for an additional capital buffer of 25 bps lapses.

Banca Monte dei Paschi di Siena's stock is up 1.2 percent at EUR3.19 per share.

By Chiara Bruschi, Alliance News reporter

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