An operational risk manager is asked to report a bank's operational risk capital under the Standardized Measurement Approach (SMA) proposed by the Basel Committee in March 2016. The treasury department produces the following data for the bank, calculated according to the SMA guidelines:

• Business Indicator (BI): EUR 1,200 million
• Internal Loss Multiplier: 1

In addition, the manager uses the Business Indicator buckets in the Business Component presented in the table below:

Bucket	BI Range	BI Component
1	≤ 1 billion	12% × BI
2	1 billion < BI ≤ 30 billion	EUR 120 million + 15% × (BI - EUR 1 billion)
3	> 30 billion	EUR 4.47 billion + 18% × (BI - EUR 30 billion)

What is the correct operational risk capital that the bank should report under the SMA?