Current Report No. 25/2017

28 Nov, 2017

Recommendations of the Financial Supervision Commission about the risks of the portfolio of foreign currency mortgage loans to households

Management Board of Bank Zachodni WBK S.A. ("the Bank") informs that on 28th November 2017 it received the following recommendation from the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) to maintain own funds to cover the additional capital requirement to secure the risk arising from FX mortgage loans for households at 0.54 pp over the amount calculated in accordance with art. 92 clasue 1 letter c of the Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 – “Regulation no. 575/2013”) that should be composed at least in 75% of Tier I capital (equivalent to own funds requirement of 0.41 pp over the amount calculated in accordance with art. 92 clause 1 letter b of the Regulation no. 575/2013) and at least in 56% of the common equity Tier I capital (equivalent to own funds requirement of 0.30 pp over the amount calculated in accordance with art. 92 clause 1 letter a of the Regulation no. 575/2013). Previous level of additional capital requirement of the bank to cover the risk arising from FX mortgage loans was 0.62 p.p.

At the date of the report the Bank fulfills the Polish Financial Supervision authority requirement related to the minimum capital adequacy ratio on both the individual and consolidated levels.

Legal basis:
art. 17 of (1) MAR – inside information.

Santander Bank Polska S.A. with its registered office in Warsaw, al. Jana Pawła II 17, 00-854 Warszawa, registered by the District Court for the capital city of Warsaw, 12th Commercial Division, set up under regulation of the Council of Ministers of 11 April 1988 on setting up Bank Zachodni in Wrocław (Journal of Laws of 1 July 1988, No. 21, item 142), registered under KRS number 0000008723, REGON 930041341, NIP 896 000 56 73, share capital of PLN 1,020,883,050 paid-up in full. Helpline: 1 9999 – fee as per the operator’s tariff.

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