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PKO BP SAPoland's bank guarantee fund sets PKO BP's MREL requirement at 15.36 pct TREA
Poland's bank guarantee fund BFG has set Poland's largest lender by assets PKO BP's MREL TREA requirement at 15.36 percent TREA and the MREL TEM requirement at 5.91 percent TEM (the same levels as in the 2024 BFG decision), the bank announced in a market filing.
As stated, the bank should comply with both requirements simultaneously, with the respective subordination requirement, as soon as it is informed of the BFG designated MREL TREA and MREL TEM levels.
"Due to the fact that the bank's resolution group has been recognised as a Top Tier Bank, i.e., it has met the condition specified in Article 97h point 1 of the Act on the Bank Guarantee Fund, the bank is obliged to comply with the MREL subordination requirement designated for a Top Tier Bank from January 1, 2027," PKO BP said in the market filing.
The MREL TREA requirement for the lender on a consolidated basis should be fulfilled by own funds and eligible liabilities meeting a subordination requirement of 13.91 percent TREA from January 1, 2027 (versus 14.56 percent in 2024 BFG decision).
Until then, PKO BP is required to maintain own funds and eligible liabilities meeting a subordination requirement of not less than 13.53 percent TREA (versus 13.90 percent in 2024 BFG decision).
The bank's MREL TEM requirement on a consolidated basis should be fulfilled by own funds and eligible liabilities meeting a subordination requirement of 5.91 percent of TEM from January 1, 2027 (the same level as in the 2024 BFG decision).
Until then, the lender is required to maintain own funds and eligible liabilities meeting a subordination requirement of not less than 5.50 percent of TEM (versus 5.62 percent in 2024 BFG decision).
The adopted TREA and TEM levels have been adjusted to exclude PKO BP's mortgage unit PKO Bank Hipoteczny S.A. and Kredobank from consolidation.
han/ ao/
