Report No. 20/2018

Legal basis:
Article 17(1) of the MAR

The report:
The Management Board of PKO Bank Polski S.A. ("Bank") informs that in the course of administrative proceedings conducted by the Polish Financial Supervision Authority (“PFSA”), on 15 June 2018, the Bank received a letter, in which the PFSA asks the Financial Stability Committee (“FSC”) to express its opinion regarding a change of the amount of the other systemically important institution O-SII buffer imposed on the Bank.

PFSA made the review of the adequacy of the O-SII buffer in accordance with Art. 46 par. 1 of the Act of 5 August 2015 on Macroprudential Supervision of the Financial System and Crisis Management. The PFSA indicated in the review that the assessment of systemic importance obtained by the Bank is the basis to impose on the Bank the O-SII buffer in the amount equivalent to 1.0% of the total risk exposure amount calculated in accordance with Art. art. 92 par. 3 of CRR, instead of the current buffer of 0.75%.

A final decision will be taken by the PFSA after obtaining the FSC's position. The Bank will inform in a separate report about the completion of the proceedings and decisions regarding the O-SII buffer.