Decision of Polish Financial Supervision Authority on the decrease of the additional capital requirement related to risk of foreign currency mortgage loans for households on the individual basis
Contents:
"3. INFORMATION ABOUT THE ENTITY
4. SIGNATURE OF PERSONS REPRESENTING THE COMPANY
| POLISH FINANCIAL SUPERVISION AUTHORITY | ||||||||||||
| REPORT No | 47 | / | 2023 | |||||||||
| Date of issue: | 2023-06-13 | |||||||||||
| Short name of the issuer | ||||||||||||
| mBank S.A. | ||||||||||||
| Subject | ||||||||||||
| Decision of Polish Financial Supervision Authority on the decrease of the additional capital requirement related to risk of foreign currency mortgage loans for households on the individual basis | ||||||||||||
| Official market - legal basis | ||||||||||||
| Art. 17 ust. 1 MAR - informacje poufne. | ||||||||||||
| Contents of the report: | ||||||||||||
| Decision of Polish Financial Supervision Authority on the decrease of the additional capital requirement related to risk of foreign currency mortgage loans for households on the individual basisThe Management Board of mBank S.A. (“Bank") informs that on 13 June 2023, the Bank received the decision of the Polish Financial Supervision Authority (“PFSA") dated 13 June 2023 concerning the change of the decision of PFSA dated 27 December 2022 regarding the level of the additional own funds requirement above the amount calculated in accordance with the detailed rules defined in the Regulation of the European Parliament and of the Council (EU) No 575/2013 of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No. 648/2012 (“Regulation no 575/2013). The PFSA requires the Bank to maintain on the individual basis own funds for covering the additional capital requirement related to risk of foreign currency mortgage loans for households at 1.38 p.p. above the amount of the total capital ratio (TCR) calculated in accordance with article 92 item 1 letter c of the Regulation no 575/2013, which should be covered at least in 75% by Tier 1 capital (which corresponds to the capital requirement of 1.03 p.p. above the Tier 1 capital ratio calculated in accordance with Article 92 item 1 letter b of the Regulation no 575/2013) and at least in 56.25% by Common Equity Tier 1 capital (which corresponds to a capital requirement of 0.78 p.p. above the Common Equity Tier 1 capital ratio calculated in accordance with Article 92 item 1 letter a of the Regulation no 575/2013). Previously, in accordance with the PFSA's decision of 27 December 2022, the Bank on the individual basis maintained own funds for covering the additional capital requirement related to risk of foreign currency mortgage loans for households at 2.03 p.p. which consisted of at least 75% of Tier 1 capital (equivalent to 1.52 p.p.) and at least of 56.25% of Common Equity Tier 1 capital (equivalent to 1.14 p.p.). The Bank informed about these requirements in the current report no 67/2022 dated 28 December 2022. The decision of the PFSA translates into the decrease of the additional capital requirement related to risk of foreign currency mortgage loans for households ratio on the individual basis by 0.65 p.p. for TCR and 0.49 p.p. for the Tier 1 capital. At the date of this current report, the Bank fulfils the PFSA requirements related to the minimum capital adequacy ratios on both the individual and consolidated levels. | ||||||||||||
INFORMATION ABOUT THE ENTITY >|>|>|
| SIGNATURE OF PERSONS REPRESENTING THE COMPANY | |||||
| Date | Name | Position / Function | Signature | ||
| 2023-06-13 | Maciej Mołdawa | Wicedyrektor Departmentu Compliance | |||
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