Caixabank: new minimum capital and liability requirements for 2024
As of 1 January 2024, CaixaBank must reach a minimum volume of own funds and eligible liabilities at the consolidated level of 21.21% of RWA (risk-weighted assets), which would be 24.24% including the current combined capital buffer requirement (CBR).
This was formally notified to the bank by the Bank of Spain, after the Single Resolution Board (SRB) determined this minimum requirement for own funds and eligible liabilities (MREL), according to the information sent by CaixaBank to the Spanish National Securities Market Commission (CNMV).
In relation to the intermediate requirement, the bank must also have, as of 1 January 2022, a Total MREL requirement of 19.33% of RWA, the same as it already had, which stands at 22.36% including the current CBR.
The Total and Subordinated MREL requirements are expressed as a percentage of both risk-weighted assets (RWA) and leverage ratio exposure (LRE).
In relation to the requirement for a minimum volume of own funds and subordinated eligible liabilities (the ‘Subordinated MREL requirement’), the SRB has determined that CaixaBank, at the consolidated level, must reach 15.37% RWA as of 1 January 2024, which would be 18.40% including the current CBR.
In relation to the intermediate requirement, from 1 January 2022, at the consolidated level, CaixaBank must reach a Subordinated MREL requirement of 13.50% RWA, which rises to 16.53% including the current CBR.
CaixaBank, at the consolidated level, must also meet a Total and Subordinated MREL requirement of 6.19% of LRE as of 1 January 2024.
The entity headed by Gonzalo Gortázar has assured that, at 31 December 2022, at the consolidated level, it meets the Total and Subordinated MREL requirements, both those established as a percentage of RWA and as a percentage of LRE, and that the long-term funding plan foresees continuing to meet these targets “comfortably”.
