Skip to main content

SpareBank 1 SMN has received its Minimum Requirement for Own Funds and Eligible Liabilities (MREL)

Written by Customer Service on . Posted in Public Companies.

Finanstilsynet has concluded that the preferred resolution option for SpareBank 1 SMN will be recapitalization through bail-in. Pursuant to the Financial institutions act § 20-9, jf. § 20-25, Finanstilsynet have made the following decision:Sparebank 1 SMN shall have a minimum requirement for own funds and eligible liabilities (MREL) of 33,3 percent of adjusted risk weighed assets. At December 31th 2018 this translates to a minimum requirement of 27 235 million NOK. Eligible debt which can be used to fulfill the requirement, shall be issued by the parent bank to external investors. The liabilities shall be non-preferred debt.The requirement comes into effect at March 31st 2020. The requirement of subordination shall be fulfilled by 31. December 2022 and until this date, the requirement can be phased in though the ability to include liabilities issued before January 1. 2020, under the assumption that the issued debt meets the general requirement for convertible debt. SpareBank 1 SMN must present a plan for the phase in of MREL-qualifying debt to the Finanstilsynet by 31. mars 2020. The plan should include a reasonable build-up plan to fulfill the requirement by 31. December 2022.CFO Kjell Fordal +47 905 41 672This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.