Legal basis:
Article 17. 1 of the MAR Regulation
The Report:
The Management Board of PKO Bank Polski S.A. ("Bank") informs that the Bank received a letter from the Bank Guarantee Fund ("BGF") dated 2 December 2021, regarding the minimum level of own funds and eligible liabilities subject to write down or conversion ("MREL", the minimum requirement for own funds and eligible liabilities).
The BGF set the target MREL requirement for the Bank based on consolidated data at the level of 15.80% of the total risk exposure amount ("TREA") and 5.91% of the total exposure measure (“TEM”). These requirements must be met at the end of 2023.
Additionally, the BGF has set MREL interim objectives which:
- in relation to TREA are: 12.02% at the end of 2021 and 13.91% at the end of 2022, and
- in relation to TEM are: 3.00% at the end of 2021 and 4.46% at the end of 2022.