SRBNK: SpareBank 1 SR-Bank - Supervisory Review and Evaluation Process (SREP)
The Financial Supervisory Authority of Norway ("the FSA") regularly carries out a Supervisory Review and Evaluation Process, "SREP", where they evaluate SpareBank 1 SR-Bank ASA’s risks and capital needs. The SREP includes a decision regarding the Pillar 2 Requirement and the Pillar 2 Guidance. SpareBank 1 SR-Bank ASA has now received this year's decision from the FSA. The Requirement is meant to cover risks which the bank is exposed to, and which is not, or only partially, covered by the Pillar 1 regulation. The Pillar 2 Requirement must be met with common equity tier 1 (CET1) capital.