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
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