Current Report 42/2020 KNF recommendation regarding additional capital requirement for Bank Ochrony Środowiska S.A. on consolidated level - publicised on 22 Dec. 2020, at 16:11 hours

The Management Board of Bank Ochrony Środowiska S.A. domiciled in Warsaw hereby informs that on 22 Dec. 2020 it received a recommendation from the Polish Financial Supervision Authority ("KNF") to comply with an additional requirement applicable to the Bank's equity above the value arising from the requirements calculated according to the detailed rules set forth in Regulation (EU) No. 575/2013 in order to secure the risk arising from foreign currency mortgage loans and borrowings for households, at the level of 0.50 p.p. above the 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 0.37 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 0.28 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.

To date, the Bank, at the consolidated level, has held own funds to cover the additional capital requirement to secure the risk arising from foreign currency mortgage loans and borrowings for households at the level of 0.52 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. 16/2019 of 13 November 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).

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original document
  • Permalink

Disclaimer

BOS - Banku Ochrony Srodowiska SA published this content on 22 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2020 12:02:07 UTC