REG - Permanent TSB Group - Identification as an O-SII and Associated Buffer

Permanent TSB groupAnnouncement

23/11/2023 14:00

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RNS Number : 5037U  Permanent TSB Group Holdings PLC  23 November 2023

23 November
2023
 

Permanent TSB Group Holdings plc ('PTSBGH')

Identification as an Other Systemically Important Institution and Associated
Buffer

Permanent TSB Group Holdings plc ('PTSBGH') has been notified by the Central
Bank of Ireland that it is to be identified as an Other Systemically Important
Institution ('O-SII') in Ireland. O-SIIs are institutions which are
systemically important to the domestic economy or to the economy of the EU.
This O-SII designation reflects the systemic importance of PTSBGH following
the recent structural changes in the Irish banking market.

 

PTSBGH has also been notified that an O-SII buffer of 50 basis points is to be
held in the form of CET1 capital from 1 January 2025.

 

The Central Bank of Ireland conducts an O-SII assessment on an annual basis
and determines the O-SII designation and associated buffer in line with EBA
Guidelines on the criteria for the assessment of Other Systemically Important
Institutions.

 

 

- Ends -

 

For Further Information Please Contact:

Denis
McGoldrick
Leontia Fannin

Investor
Relations
                Head of Corporate Affairs and Communications

Email: denis.mcgoldrick@ptsb.ie (mailto:denis.mcgoldrick@ptsb.ie)
                            Email: Leontia.Fannin@ptsb.ie
(mailto:Leontia.Fannin@ptsb.ie)

Phone: +353 87 928 5645
             Phone: +353 87 973 3143

 

Appendix - Additional Information

 CET1 Regulatory Requirements          2023   Jan 2025
 Pillar 1 Requirement                  4.50%  4.50%
 Pillar 2 Requirement (P2R)            1.94%  1.94%
 Capital Conservation buffer (CCB)     2.50%  2.50%
 Countercyclical buffer (CCyB)(1)      1.00%  1.50%
 O-SII buffer                          0.00%  0.50%
 Total CET1(2) Regulatory Requirement  9.94%  10.94%

 

 Total Capital Regulatory Requirements    2023    Jan 2025
 Pillar 1 Requirement                     8.00%   8.00%
 Pillar 2 Requirement (P2R)               3.45%   3.45%
 Capital Conservation buffer (CCB)        2.50%   2.50%
 Countercyclical buffer (CCyB)(1)         1.00%   1.50%
 O-SII buffer                             0.00%   0.50%
 Total Capital(2) Regulatory Requirement  14.95%  15.95%

 

1.     Countercyclical buffer due to increase to 1.50% from Jun'24 as per
CBI Financial Stability Review 2023

2.     Does not include Pillar 2 Guidance ('P2G')

 

Note on Forward-Looking Information:

This announcement contains forward-looking statements, which are subject to
risks and uncertainties because they relate to expectations, beliefs,
projections, future plans and strategies, anticipated events or trends, and
similar expressions concerning matters that are not historical facts. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors, which may cause the actual results, performance or achievements
of the Bank or the industry in which it operates, to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. The forward-looking statements referred to in
this paragraph speak only as at the date of this announcement. The Bank
undertakes no obligation to release publicly any revision or updates to these
forward-looking statements to reflect future events, circumstances,
unanticipated events, new information or otherwise except as required by law
or by any appropriate regulatory authority.

 

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