Bank Millennium S A : Decision of Polish Financial Supervision Authority with recommendation on additional own funds requirements (buffer for FX households mortgages)
November 26, 2020 at 01:15 pm EST
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The Management Board of Bank Millennium S.A. ('the Bank'), hereby reports that on 26th of November 2020, it received from the Polish Financial Supervision Authority ('PFSA') the decision with recommendation regarding maintaining additional own funds (on non-consolidated basis) at the level of 3.41 percentage points above the value of total capital ratio defined in the art. 92.1.c of regulation (EU) No 575/2013 of the European parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investments firms and amending Regulation (EU) No 648/2012 ('CRR'), in order to secure the risk resulting from FX mortgage for households loan portfolio, which should consist of at least 75% of Tier I capital (which corresponds to 2.56 percentage points above the value of Tier I capital defined in art.92.1.b of CRR) and at least 56% of core Tier I capital (which corresponds to 1.91 percentage points above the value of core Tier I capital defined in art.92.1.a of CRR). The new level of the required buffer is lower by 1.55 percentage points compared with the level communicated on the 8th of November 2019
The decision was taken based on article 138 sec. 1 point 2a of the Banking Law. As a result of the above decision, based on the currently available information and to our best understanding, the Bank needs to comply with the minimum capital ratios presented in the attachment.
At the date of this current report, the Bank fulfils the PFSA requirements related to the minimum capital ratios on both the individual and consolidated levels.
Legal base: Art. 17.1 of MAR
Attachment to the Current Report No. 31/2020
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Bank Millennium SA published this content on 26 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2020 18:14:03 UTC
Bank Millennium SA is a Poland-based commercial bank. Its product and service offer includes personal accounts, debit and credit cards, overdraft limits, cash and mortgage loans, saving accounts, term deposits, investment funds, brokerage services, structured products and insurance products. Its business is divided into three segments, including Retail Banking, providing services for individual customers and small enterprises; Corporate Banking, providing services for corporate customers; and Treasury and investment operations, offering financial instruments for both individual and corporate customers. As of December 31, 2012, the Bank rendered its services through a network of 447 outlets located in Polish cities, Internet banking (Millenet), telephone banking and a network of automated teller machines (ATMs). It operated six subsidiaries, including Millennium Leasing Sp. z o.o. and Millennium Dom Maklerski SA, among others. Banco Comercial Portugues SA held a 65.51% stake in the Bank
Bank Millennium S A : Decision of Polish Financial Supervision Authority with recommendation on additional own funds requirements (buffer for FX households mortgages)
BANK MILLENNIUM S.A. 
