RCI Banque discloses SREP Capital Requirements 2021
Thursday, December 14th, 2020
RCI Banque discloses SREP Capital Requirements 2021
RCI Banque informs it has received ECB operational letter regarding the results of the Supervisory Review and Evaluation Process 2020. The 2019 ECB final decision is not superseded or amended by this letter and remains in force. Pillar 2 requirement for RCI Banque in 2021 remains at 2.0%.
RCI Banque is required to meet the following capital requirements in 2021
|Minimum capital requirements|
|Total||Pillar 1||Pillar 21||Buffers2|
|ow CET1 (Regulatory)||8,135%||4,50%||1,125%||2,51%|
|ow RCI AT1 Shortfall4||1,875%||1,50%||0,375%|
|ow RCI T2 Shortfall5||0,04%||0,00%||0,04%|
As a reminder, RCI Banque CET1 and Total Capital ratios stood at 15,67% and 18,13% respectively at 30 June 2020.
|Analysts and Investors|
+ 33(0) 1 76 88 81 74
About RCI Banque S.A.
Created and wholly owned by Groupe Renault, RCI Banque S.A. is a French bank specializing in automotive financing and services for the customers and dealership networks of Groupe Renault (Renault, Dacia, Alpine, Renault Samsung Motors and Lada) worldwide, the Nissan group (Nissan, Infiniti and Datsun) mainly in Europe, Brazil, Argentina and South Korea and through joint ventures in Russia and India, and Mitsubishi Motors in the Netherlands.
RCI Bank and Services has been the new commercial identity of RCI Banque S.A. since February 2016.
With 3,700 employees in 36 countries, RCI Bank and Services financed nearly 1.8 million contracts (for new and used vehicles) in 2019 and sold more than 5.1 million services.
At end-December 2019, average performing assets stood at €47.4 billion in financing and pre-tax income at
RCI Bank and Services has rolled out a deposits collection business in six countries since 2012. At end-December 2019, net collected deposits totaled €17.7 billion, or nearly 35% of the company’s net assets.
1 Pillar 2 requirement or P2R. Does not include undisclosed Pillar 2 Guidance. Change to the composition of P2R among actions taken by the ECB banking supervision communicated viapressrelease on 12 March 2020.
2 Capital Conservation buffer (“CCB”) 2.5 %, Counter-cyclical buffer (“CCyB”) 0.01 % as of January 2021. The CCyB depends on the bank exposure towards countries where countercyclical buffer rates are or will be set and may therefore vary on a quarterly basis.
3 Assuming AT1 and T2 shortfalls filled with CET1 and shortfalls at their 30/06/2020 levels
4 AT1 shortfalls (1.5% on Pillar 1 and 18,75 % of P2R on Pillar 2) filled with CET1
5 T2 shortfalls (including 25 % of P2R) filled with CET1 (calculation as of 30/6/2020)
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