Current Report 37/2020 KNF Recommendation for additional capital requirement for Bank Ochrony Środowiska S.A. - publicised on 7 Dec. 2020, at 14:07 hours

The Management Board of Bank Ochrony Środowiska S.A. domiciled in Warsaw hereby inform that on 7 Dec. 2020 the Board have received a recommendation of the Financial Supervision Authority ("KNF") for the Bank to comply with an additional requirement for own funds above the ratio arising from the requirements calculated in accordance with detailed principles set forth in Regulation No. 575/2013, by maintaining own funds to cover an additional capital requirement to secure the risk arising from foreign currency mortgage loans for households at the level of 0.52 p.p. above total capital ratio specified in art. 92 section 1 (c) of Regulation No. 575/2013, which should consist in at least 75% of Tier I capital (which corresponds to the capital requirement of 0.38 p.p. above Tier I capital ratio specified in Art. 92 Section 1 (b) of Regulation No. 575/2013) and in at least 56% of Tier I core capital (which corresponds to the capital requirement of 0.29 p.p. above Tier I core capital ratio specified in Art. 92 Section 1 (a) of Regulation No. 575/2013).

The recommendation specified above is subject to instant execution.

So far the Bank has held own funds to cover the additional capital requirement to secure the risk arising from foreign currency mortgage loans for households at the level of 0.54 p.p. above the total capital ratio specified in art. 92 section 1 (c) of Regulation 575/2013. The Bank notified of that in its Current Report No. 15/2019 of 13 Nov. 2019.

As of this report's effective date the Bank fulfils the capital ratio requirements recommended by the KNF.

Legal basis:

Art. 17 section 1 of Regulation (EU) no. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (MAR).

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BOS - Banku Ochrony Srodowiska SA published this content on 07 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2020 11:28:04 UTC