Legal basis:
Article 17.1 MAR Regulation
the Report:
The Management Board of PKO Bank Polski S.A. (“Bank”) informs that on the 14 of December 2023 it received a recommendation from the Polish Financial Supervision Authority (“PFSA”) to limit the risk occurring in the Bank's operations by maintaining own funds to cover the additional capital add-on in order to absorb potential losses resulting from the occurrence of stress conditions (P2G). It was set at 0.48 p.p. at the standalone basis (the level recommended by the PFSA in 2022 was 0.72 p.p.) and 0.42 p.p. at consolidated one (the level recommended by the PFSA in 2022 was 0.66 p.p.) above the level of total capital ratio described in the article 92 item 1 letter c of the regulation (EU) No. 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions increased by the additional own funds requirement referred to in Article 138(2)(2) of the Banking Law and by the combined buffer requirement referred to in Article 55(4) of the Act on macro prudential oversight.
The additional capital requirement should be made up of Tier 1 funds only.
The PFSA's decision is the result of the Bank’s supervisory assessment process, in which the Bank's sensitivity to the possible materialization of stress scenarios affecting the level of own funds and risk exposure was assessed as low.