UNOFFICIAL TRANSLATION
03.12.2021 - Report 34/2021: Setting by the Bank Guarantee Fund the minimum requirement for own funds and eligible liabilities (MREL) for Bank Polska Kasa Opieki S.A.
Bank Polska Kasa Opieki S.A. ("Bank") informs that on 2nd December 2021 it received the letter from Banking Guarantee Fund ("BFG") regarding update of the resolution plan and setting the minimum requirement for own funds and eligible liabilities ("MREL").
Based on data as at 31st December 2020, BFG set target minimal level of MREL requirement at 15.37% of the total risk exposure amount ("TREA"), and 5.91% of the total exposure measure ("TEM"). Target minimal level of MREL which must be fulfilled with own funds and eligible liabilities meeting the subordination requirement at the abovementioned date is 14.04% in relation to TREA, and 5.91% in relation to TEM. Abovementioned requirement is to be met from 31st December 2023 onwards.
BFG set interim MREL goals both on total level and on level which must be fulfilled with own funds and eligible liabilities meeting the subordination requirement. On total level as at 31st December 2021 and 31st December 2022, MREL:
· in relation to TREA should be respectively at least at the level of 11.69% and 13.53%,
· in relation to TEM should be respectively at least at the level of 3.00% and 4.46%.
On level which must be fulfilled with own funds and eligible liabilities meeting the subordination requirement as at 31st December 2021 and 31st December 2022, MREL:
· in relation to TREA should be respectively at least at the level of 11.02% and 12.53%,
· in relation to TEM should be respectively at least at the level of 3.00% and 4.46%.
As at 30th September 2021 Bank meets the target level of MREL requirement in relation to TREA set by BFG as at 31st December 2021 and 31st December 2022.
As at 30th September 2021 Bank meets the target level of MREL which must be fulfilled with own funds and eligible liabilities meeting the subordination requirement set by BFG as at 31st December 2021, 31st December 2022 and 31st December 2023.
As at 30th September 2021 Bank meets the target level of MREL requirement in relation to TEM set by BFG as at 31st December 2021, 31st December 2022 and 31st December 2023.
Legal basis: Article 17 (1) of MAR - inside information
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