Kvika banki hf.: The Central Bank of Iceland Resolution Authority approves a resolution plan for Kvika banki and sets the minimum requirement for own funds and eligible liabilities (MREL)

2 months ago 17

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The Central Bank of Iceland Resolution Authority announced today that a resolution plan for Kvika has been approved and thereby a decision on the minimum requirement for own funds and eligible liabilities (MREL) for the bank, in accordance with the Act on Resolution of Credit Institutions and Investment Firms, no. 70/2020.

According to the Resolution Authority's decision, Kvika's MREL requirements are 22.0% of Total Risk Exposure Amount (MREL-TREA) and 6.0% of Total Exposure Measure (MREL-TEM). The decision is effective from the date of the announcement, and the bank is already considered to meet the MREL requirements.