SpareBank 1 Nord-Norge has received its Minimum Requirement for Own Funds and Eligible Liabilities (MREL)
SpareBank 1 Nord-Norge has received its MREL requirement from the Norwegian Financial Supervisory Authority. According to the notice, SpareBank 1 Nord-Norge shall hold total MREL capital equal to 32.5 per cent of adjusted Risk Weighted Assets (RWA). The requirement is based on the group’s balance as of 31 December 2018, and adjusting for the group’s level of own funds, this leads to a requirement of eligible liabilities of NOK 8 108 million. The MREL requirement, according to the notice, is applicable from 31 March 2020. The requirement for eligible liabilities is applicable from 31