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Polish Financial Supervision Authority (PFSA) recommendation regarding change of prudential requirements for Bank Millennium Group (FX mortgage buffer)
Current Report No. 30/2019
The Management Board of Bank Millennium S.A. ("the Bank"), hereby reports that the Bank received from the PFSA a letter concerning requirement to maintain own funds for the coverage of additional capital requirement on the consolidated basis for Bank Millennium SA Group at the level of 4.87 for total capital ratio, 3.65 p.p. for Tier I capital and 2.73 p.p. for core Tier I capital. This information was delivered to the Bank in connection to the decision of PFSA on the requirements to maintain own funds on the non-consolidated level for Bank Millennium SA, about which the Bank informed in the Current Report No 29/2019 from the 8th November, 2019.
As a result of the above decisions, based on the currently available information and to our best understanding, the Bank and the Group need to comply with the minimum capital ratios presented in the attachment.
At the date of this current report, the Bank fulfils the PFSA requirements related to the minimum capital ratios on both the individual and consolidated levels.