The European Central Bank confirmed the level of additional requirement in respect of Pillar 2 (P2R or 'Pillar 2 Requirement') for Societe Generale, which will come into force as from 1st January 2017. This level has been set at 1.50%.

Taking into account the combined regulatory buffers (excluding the counter-cyclical buffer), the phased-in CET1 ratio level that would trigger the Maximum Distributable Amount mechanism in 2017 would be 7.75%, down -200bp vs. 2016, and subsequently gradually increase, all other things being equal, to 9.50% as from 1st January 2019.

The regulatory CET1 phased-in ratio, amounting to 11.6% at end-September 2016, gives the Group comfortable room for manoeuvre to meet these new requirements.

Press Contact: Pascal Henisse - +33 (0)1 57 29 54 08 - pascal.henisse@socgen.com

Société Générale SA published this content on 01 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 01 December 2016 18:45:02 UTC.

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