ESRB European Systemic Risk Board : Notification by the Autorité de Contrôle Prudentiel et de Résolution (the Prudential Supervisory and Resolution Authority of France) on four globally systematically important institutions (G-SIIs)

Notification template for Article 131 CRD - Global Systemically Important Institutions (G-SIIs)

Please send this template to

• •[e-mail] when notifying the ESRB;

• •[e-mail] when notifying the ECB;

• •[e-mail] when notifying the EBA.

Emailing this template to the above-mentioned addresses constitutes an official notification, no further official letter is required. In order to facilitate the work of the notified authorities, please send the notification template in a format that allows electronically copying the information.

1. Notifying national authority
1.1 Name of the notifying authority	Autorité de Contrôle Prudentiel et de Résolution (ACPR)
2. Description of the measure
2.1 Concerned institution(s)	Group BNP ParibasR0MUWSFPU8MPRO8K5P83 Group Société Générale O2RNE8IBXP4R0TD8PU41 Group Crédit Agricole Group BPCEFR969500TJ5KRTCJQWXH FR9695005MSX1OYEMGDF
2.2 Level of the buffer applied	Group BNP Paribas 1.5% as of 01/01/2020 Group Société Générale 1.0% as of 01/01/2020 Group Crédit Agricole Group BPCE 1.0% as of 01/01/2020 1.0% as of 01/01/2020
2.3 Names of subsidiaries	In 2018, the ACPR received two notifications concerning the identification as O-SIIs of subsidiaries of the French G-SII groups. Name of subsidiaries Bank BGZ BNP Paribas SALEI of the subsidiary NMH2KF074RKAGTH4CM63 Country Poland Societe Generale Expressbank AD 549300ASHQEYUZ8ARW85 Bulgaria
3. Timing of the measure
3.1 Timing of the Decision	12 october 2018
3.2 Timing of the Publication	As soon as possible after FSB publication and at the latest by end November 2018

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Date of template version: 2016-03-01

3.3 Disclosure	All documents will be published on the ACPR website on a dedicated web page:https://acpr.banque-france.fr/en/prudential-supervision/banking-supervision/systemic-entities-banking-sector
3.4 Timing of Application	01/01/2020
3.5 Phasing in	The phasing in period ends on 1st January 2019
4. Reason for activation of the G-SII buffer
4.1 Indicators used for designation of the G-SII (Article 131.2)	Cf. BCBS assessment methodology(https://www.bis.org/publ/bcbs255.htm)All indicators are disclosed by the banking groups and published.
4.2 Scores and buckets (Article 131.2 and 131.9)	Score in bp	Bucket
	Groupe BNP Paribas	315	bucket 2
	Groupe Société Générale	204	bucket 1
	Groupe Crédit Agricole	180	bucket 1
	Groupe BPCE	130	bucket 1
5. Cross-border and cross-sector impact of the measure
5.1 Assessment of cross-border effects and the likely impact on the internal market (Recommendation ESRB/2015/2)	The French banking system is rather concentrated on a consolidated basis. Four French banking groups have a G-SII and O-SII status. With the designation of two additional systemic banking groups in France as O-SIIs, the market share of the 6 French systemic banking groups covers around 83% of the total assets of the French banking system (at the highest level of consolidation). In close coordination, the ACPR and the Banque de France (Directorate General Operations and Financial Stability) monitor the development of structural risks and of interconnectedness within the EU banking system, using multiple data sources for measuring cross-border exposures. This monitoring activity is complemented by empirical assessment in line with the work of the International Banking Research Network (IBRN) on cross-border spill-over effects. Such assessment reveals that any tightening of capital requirement by the French authorities would generally have very small impact in terms of cross-border spill-overs.
5.2 Assessment of leakages and regulatory arbitrage within the notifying Member State	This is closely monitored by the Research and Risk Analysis Directorate of the ACPR and there is no sign of leakages or regulatory arbitrage.

6. Combinations and timing of the G-SII notified

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6.1 combinations between G-SII and O-SII buffers (Article 131.14)	The O-SII buffers decided in 2018 are at the same level as G-SII buffers.
6.2 Combinations with SRB buffers (Article 131.14 + Article 133.5)	To date, no SRB is applied to any French G-SII. For the SRB instrument, the competent authority is the Haut Conseil de la Stabilité Financière (HCSF). For more information, seehttps://www.economie.gouv.fr/hcsf-en
6.3 Interaction with other measures	No comment
7. Miscellaneous
5.1 Contact person(s) at notifying authority	Laurent CLERC([e-mail]) Denis MARIONNET([e-mail]) Marie-Dominique KERSUZAN([e-mail]
5.2 Any other relevant information

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