MILAN, Dec 11 (Reuters) - Italy's UniCredit said on Monday the European Central Bank had set a minimum threshold for its best quality Common Equity Tier 1 (CET1) capital of 10.03% for 2024, above the previous year's level.

The ECB had set the same threshold at 9.20% for the current year. The new requirement kicks in on Jan. 1.

The Financial Stability Board said last month it was removing UniCredit from the list of 'Global Systemically Important Banks' (G-SIB) .

It must now hold a capital buffer as one of the 'Other Systemically Important Institutions' (O-SII), which the Bank of Italy recently set above what UniCredit had to hold as a G-SIB after changing the methodology it uses to calculate such buffer.

UniCredit's O-SII buffer is 1.5% against 1% for the current G-SIB buffer, which would also have risen for 2024.

The O-SII buffer reflects risks which are not specific to individual banks, unlike the so-called 'Pillar 2' requirement which for UniCredit is unchanged at 200 basis points.

UniCredit has ample excess capital with a 17.2% CET1 ratio as of Sept. 30. (Reporting by Francesca Landini; Editing by Valentina Za)