Profil:
ING Bank Śląski SAING BSK lender faces MREL TREA requirement at 19.44 pct of total risk exposure
Poland's state bank guarantee fund BFG has set the MREL TREA requirement for listed lender ING BSK, taking into account the combined buffer requirement of the current 3.51 percent, at19.44 percent of total risk exposure, the bank said in a market filing.
The MREL TEM target requirement for ING Bank Slaski was set at 5.91 percent of the total exposure measure at the individual level.
In addition, BFG indicated that the part of the MREL corresponding to the recapitalisation amount should be met in the form of the following instruments: additional Tier 1 (AT1), Tier 2 (T2) capital instruments and other subordinated eligible liabilities acquired directly or indirectly by the parent.
It was indicated that this additional expectation of the BFG relates to the MREL target. Based on the BFG's methodology, the bank's management estimates that the recapitalisation amount part of the MREL requirement is 7.93 percent of TREA and 2.91 percent of TEM.
The bank is obliged to comply with the requirement as soon as it receives the information.
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