Profil:
mBank SAmBank lender faces MREL requirement at 15.36 pct of total risk exposure amount
mBank, the Warsaw-listed unit of Germany's Commerzbank, updated MREL requirement at the consolidated level, excluding mBank Hipoteczny from consolidation, is 15.36 percent of the total risk exposure amount (TREA), the bank said in a market filing.
mBank said that it had received a letter from Poland's state bank guarantee fund BFG regarding the joint decision of the resolution authorities, i.e. the Single Resolution Board SRB, Poland's state bank guarantee fund BFG and the Hungarian National Bank on the requirement for Minimum Requirement for Own Funds and Eligible Liabilities (MREL).
As stated, the MREL requirement was set at 15.36 percent of total risk exposure amount (TREA) and should be met by own funds and subordinated eligible liabilities of 13.61 percent of TREA.
The MREL requirement for the total exposure measure (TEM) is set at 5.91 percent and should be met by own funds and subordinated eligible liabilities of 5.33 percent.
Common Equity Tier 1 (CET1) instruments held for the combined buffer requirement of 3.09 percent of TREA cannot be counted towards the MREL requirement, expressed as a percentage of TREA.
The bank reported that as at May 6 it was in compliance with all MREL requirements in question.
pel/ nl/