12.04.2023
Contents:

1. REPORT

3. INFORMATION ABOUT THE ENTITY

4. SIGNATURE OF PERSONS REPRESENTING THE COMPANY

POLISH FINANCIAL SUPERVISION AUTHORITY
REPORT No 23 / 2023
Date of issue:
Short name of the issuer
mBank S.A.
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 12 April 2023 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 and BFG as regards the minimum requirement for own funds and eligible liabilities ("MREL"). The BFG informs in the letter of the updated MREL requirement compared to the values communicated by the BFG in the letter dated 5 May 2022 about which the Bank informed in the current report no. 16/2022 on 6 May 2022. The updated 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. BFG, in agreement with SRB, determined the target MREL at the level of 18,57% of the total risk exposure amount ("TREA"), which should be met by own funds and subordinated eligible liabilities at the level of 18,03% of TREA till 31 December 2023. MREL in respect to total exposure measure ("TEM") was determined at 5,91% and should be fully met by own funds and subordinated eligible liabilities till 31 December 2023. Furthermore, the BFG in agreement with SRB, set interim MREL goals binding at the moment the decision at the level of: - 14,16% of TREA, including in respect to own funds and subordinated eligible liabilities 13,89%, and - 4,46% of TEM, to be fully met by own funds and subordinated eligible liabilities. 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 subsequent calendar year.

INFORMATION ABOUT THE ENTITY    >>>

SIGNATURE OF PERSONS REPRESENTING THE COMPANY
Date Name Position / Function Signature
2023-04-12 Maciej Mołdawa Wicedyrektor Departamentu Compliance