SOCGEN SAYS THE ECB HAS SET ITS PILLAR 2 REQUIREMENT AT 2.37%, INCLUDING 1.39% CET1, EFFECTIVE JANUARY 1, 2027, WITH THE MINIMUM CET1 RATIO AT 10.41%, TIER 1 AT 12.33% AND TOTAL CAPITAL AT 14.89%

The European Central Bank has set Société Générale's Pillar 2 Requirement (P2R) at 2.37%, of which 1.39% must be met with Common Equity Tier 1 capital, effective January 1, 2027. Including the buffers, the bank's binding minimums are a CET1 ratio of 10.41%, a Tier 1 ratio of 12.33%, and a total capital ratio of 14.89%. The transmission channel here is bank capital regulation: higher or more precisely specified capital requirements constrain balance sheet capacity, shape lending and distribution policy, and can influence the cost of equity and the sensitivity of a bank's capital ratios to losses. Société Générale's equity and subordinated debt holders are the most directly exposed, since the CET1 and total capital thresholds define the headroom available for dividends, buybacks, and loss absorption, while the market-wide read-across matters for other large euro-area lenders whose SREP outcomes are assessed on the same framework. The next concrete reference point for traders is the bank's upcoming capital and distribution disclosures, including quarterly CET1 ratio reporting and any updated shareholder return gu

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