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PKO BP SAPKO BP lender faces MREL TREA requirement at 15.36 pct
Poland's largest lender by assets PKO BP faces a group MREL requirement at 15.36 percent of total risk exposure amount (TREA) and at 5.91 percent of total exposure measure (TEM), PKO BP said in a market filing of a notification from Poland's state bank guarantee fund BFG.
The bank said that it had received a letter from BFG, specifying the minimum levels of own funds and eligible liabilities (MREL).
"In addition, as the bank's forced restructuring group as of December 31, 2023, exceeded the level of EUR 100 billion in total assets, it has been recognised as a Top Tier Bank (...)," PKO BP said in the market filing.
"Consequently, the bank is required to comply with the MREL subordination requirement set for Top Tier Bank as of January 1, 2027," it added.
The MREL TREA requirement for PKO BP on a consolidated basis should be met by own funds and eligible liabilities meeting the 14.56 percent TREA subordination requirement from January 1, 2027.
PKO BP reported that until then it is required to maintain own funds and eligible liabilities meeting the subordination requirement at no less than 13.9 percent of TREA.
The bank's MREL TEM requirement on a consolidated basis should be met by own funds and eligible liabilities meeting a subordination requirement of 5.91 percent of TEM from January 1, 2027, and until then it must maintain it at no less than 5.62 percent of TEM.
MREL requirements are subject to annual updates.
seb/ ao/