Kurs & Likviditet
Beskrivning
| Land | Norge |
|---|---|
| Lista | 39974 |
| Sektor | Finans |
| Industri | Bank |
2022-04-28 15:52:50
SpareBank 1 Østlandet refers to its announcement on 25 December 2021 regarding
the feedback from the Norwegian FSA (NFSA) through the Supervisory Review and
Evaluation Process (SREP). The feedback included the assessment from the NFSA of
the company's Pillar 2 requirement and capital target. According to the NFSA,
the total capital needs of SpareBank 1 Østlandet under Pillar 2 was equivalent
to 2.0 per cent of risk weighted assets under Pillar 1. In addition, the NFSA
expected SpareBank 1 Østlandet to hold a margin of CET 1 capital above combined
requirements for CET 1 capital, Tier 1 capital, and total capital of at least
1.0 per cent of risk-weighted assets (Pillar 2 guidance).
The Board gave feedback to the NFSA in a letter dated 11 February 2022. The
Board believed the requirement was not in line with regulatory calculation
methods and hence that the requirement of 2.0 per cent was too high. The Board
also believed the Pillar 2 guidance was too conservative in light of the bank's
own calculations but nevertheless took the guidance into account in the capital
planning.
SpareBank 1 Østlandet has now received an updated assessment and decision from
the NFSA. Based on the bank's feedback, the NFSA now believes that the total
capital needs of SpareBank 1 Østlandet under Pillar 2 is equivalent to 1.8 per
cent of risk weighted assets under Pillar 1. Accordingly, the new requirement
from the NFSA is the same as the current. The NFSA maintains its Pillar 2
guidance of 1.0 per cent.
In its capital planning, SpareBank 1 Østlandet will take into account the Pillar
2 requirement of 1.8 per cent and the Pillar 2 guidance of 1.0 per cent. As of
31 December 2021, the Group's Common Equity Tier 1 capital ratio requirement,
inclusive of a Pillar 2 requirement of 1.8 percentage points, was 14.3 per cent.
The actual CET 1 capital ratio was 18.0 per cent.
The decision comes into effect on 30 April 2022.
Contacts at SpareBank 1 Østlandet:
Richard Heiberg, CEO, tel.: +47 902 06 018
Geir-Egil Bolstad, CFO, tel.: +47 918 82 071
Bjørn-Erik R. Orskaug, Head of Investor Relations, tel.: +47 922 39 185
This information is subject of the disclosure requirements acc. to section 5-12
of the Norwegian Securities Trading Act and the Market Abuse Regulation (MAR) of
the European Union.