Nordea’s Pillar 2 requirement to be reduced
The Nordea Group’s Pillar 2 requirement (P2R) will be reduced to 1.60% from the current 1.75%. The P2R is a bank-specific capital requirement which applies in addition to the minimum capital requirement known as Pillar 1. The Common Equity Tier 1 (CET1) requirement in the P2R is therefore reduced from 0.98% to 0.90%. On 21 December Nordea received the European Central Bank’s (ECB) Joint Decision on the Supervisory Review and Evaluation Process (SREP). The Joint Decision on SREP is the annual process where the ECB concludes on the assessment of banks under its supervision, and also