06.05.2022
Contents:

1. REPORT

3. INFORMATION ABOUT THE ENTITY

4. SIGNATURE OF PERSONS REPRESENTING THE COMPANY

POLISH FINANCIAL SUPERVISION AUTHORITY
REPORT No 16 / 2022
Date of issue: 2022-05-06
Short name of the issuer
mBank
Subject
Letter from the Bank Guarantee Fund regarding the minimum requirement for own funds and eligible liabilities (“MREL”) for mBank S.A.
Official market - legal basis
Art. 17 ust. 1 MAR - informacje poufne.
Contents of the report:
Letter from the Bank Guarantee Fund regarding the minimum requirement for own funds and eligible liabilities (“MREL”) for mBank S.A. The Management Board of mBank S.A. ("Bank") informs that on 5 May 2022 the Bank received a letter from the Bank Guarantee Fund (“BFG”) concerning the joint decision of the resolution authorities, i.e. the Single Resolution Board, BFG and the Hungarian National Bank in regards to the requirement of own funds and eligible liabilities ("MREL"). The BFG informs in the letter of the updated MREL requirement, in relation to the values communicated by the BFG in the letter dated 3 December 2021, about which the Bank informed in the current report no. 66/2021 on 3 December 2021. The updated target MREL requirement has been set for the Bank at the consolidated level, excluding mBank Hipoteczny from the consolidation in accordance with Art. 97 (4a) of the Act on the Bank Guarantee Fund, the Deposit Guarantee Scheme and Resolution of 10 June 2016, at the level of 19,22% of the total risk exposure amount ("TREA"), where for own funds and subordinated eligible liabilities at the level of 18,60% of TREA and 5,91% of the total exposure measure ("TEM"), where for own funds and subordinated eligible liabilities at the level of 5,67% of TEM. The target MREL requirement should be reached by 31 December 2023. Furthermore, the BFG set interim MREL goals which for: - TREA are 14,67% at the moment the decision is communicated to the Bank and 16,94% at the end of 2022, including in respect to own funds and subordinated eligible liabilities 14,36% and 16,48% respectively, and - TEM are 3,00% at the moment the decision is communicated to the Bank and 4,46% at the end of 2022, including in respect to own funds and subordinated eligible liabilities 3,00% and 4,34% respectively. The BFG also indicated that the Common Equity Tier 1 capital kept by the Bank for the purposes of the combined buffer requirement cannot be included in MREL requirement in relation to TREA. BFG informed that the target MREL level with the subordination level will be updated in each subsequent calendar year.

INFORMATION ABOUT THE ENTITY    >>>

SIGNATURE OF PERSONS REPRESENTING THE COMPANY
Date Name Position / Function Signature
2022-05-06 Maciej Mołdawa Wicedyrektor Departamentu Compliance