See the first sentence of 210.19(A)(1):
The actual load on each circuit is 16Amps. So a conductor with an ampacity of 17.2 is large enough to carry the load.
The next sentence of 210.19(A)(1) says
In this case 16*1.25=20. The conductor that has an allowable ampacity of at least 20 is #14 AWG. (But of course 240.4(D) does not allow #14 on a 20A c/b, so #12 would be the smallest allowable conductor size.)
So my 8 CCC's which are #12 THWN-2, in a 115 degree ambient have an ampacity 17.2, which is large enough to carry the load, and is not smaller than the minimum required conductor size. I meet both conditions of 210.19(A)(1)