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 Email: 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 CET12 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 Capital2 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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