Inactive Instrument

Bankia

Equities

BKIA

ES0113307062

Bankia S A : Minimum requirements for own funds and eligible liabilities (MREL) total and subordinate set by the Single Resolution Board

February 23, 2021 at 07:56 am

OTHER RELEVANT INFORMATION

Pursuant to article 227 of the consolidated text of the Securities Market Act, approved by Legislative Royal Decree 4/2015 of 23 October 2015, Bankia, S.A. (hereinafter, Bankia) informs that the Bank of Spain has formally notified it of the minimum requirements for own funds and eligible liabilities (the "MREL requirements") Total and Subordinate, as determined by the Single Resolution Board (SRB).

InscritaenelRegistroMercantildeValencia,Tomo9.341,Libro6.623,Folio104,Hoja:V-17.274.CIF:A-14010342

This notification has been based on the Bank Recovery and Resolution Directive ("BRRD2"), applicable from 29 December 2020. BRRD2 sets a deadline to meet MREL requirements of January 1, 2024, with an interim requirement to be met on January 1, 2022. Furthermore, BRRD2 also states that total and subordinate MREL requirements must be expressed as a percentage of both Risk Weighted Assets ("APRs"), and the Leverage Ratio Exposure ("LRE").

As set out in the notification, Bankia, at the consolidated level, must comply from 1 January 2024, a minimum amount of own funds and eligible liabilities (the "Total MREL requirement") of 21.25% of APRs, which would equate to 24.00% including the Combined Buffer Requirements ("CBR")1 and to 6.23% in terms of LRE.

As for the intermediate requirement, the SRB has decided that, by 1 January 2022, Bankia must comply with a Total MREL requirement of 19.57% of RWA, which would be equal to 22.32% when including the CBR and 6.23% in terms of LRE.

With regard to the requirement of a minimum amount of own funds and subordinated eligible liabilities (the "subordinate MREL requirement"), the SRB has determined that Bankia, at the consolidated level, must comply with a subordinate MREL requirement on APRs of 14.03%, as well as a subordinate MREL requirement on LRE of 6.23% since 1 January 2022.

Bankia meets the requirements of MREL Total and Subordinate, both those established as a percentage of APRs and as a percentage of LRE.

1 The Combined Buffer Requirements requirement is 2.75% of APRs as of December 2020

Total and Subordinate MREL requirements including CBR vs regulatory ratios at the end of 2020.

InscritaenelRegistroMercantildeValencia,Tomo9.341,Libro6.623,Folio104,Hoja:V-17.274.CIF:A-14010342

Requirements in % APRs	2022	2024
MREL Total	22,32%	24,00%
MREL Subordinate	14,03%	14,03%

MREL Total

22,32%

24,00%MREL Subordinate

14,03%

Requirements in % LRE	Since 2022
MREL Total	6,23%
MREL Subordinate	6,23%

MREL Total

6,23%MREL Subordinate

25,87%

6,23%BANKIA, S.A.

Madrid, 23rd February 2021

Attachments

Original document
Permalink

Disclaimer

Bankia SA published this content on 23 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2021 07:55:03 UTC.

Latest news about Bankia

Mapfre Sells 51% Bankia Vida Stake to JV Partner Caixabank in $648 Million Deal	30/12/21	MT
CaixaBank S A : Capital Buffer to Rise Following Bankia Merger	29/07/21	MT
CaixaBank S A : sells Bankia businesses to Global Payments for 277 million euros	09/07/21	RE
CaixaBank S A : To Sell Two Former Bankia Units For $328 Million	09/07/21	MT
Caixabank to cut 6,450 jobs in Spain's biggest banking staff overhaul	01/07/21	RE
CaixaBank S A : offers to limit job losses to 6,750 as staff strike	29/06/21	RE
CaixaBank S A : Strike Pushes Spain's CaixaBank to Reduce Planned Layoffs by Over 1,300	22/06/21	MT
CaixaBank S A : to reduce planned job cuts by 1,300 following strike	22/06/21	RE
Stoxx Europe 600 : European Shares End Largely Higher Ahead of US Fed Meeting	16/06/21	MT
Banco de Sabadell S A : Spanish Anti-Competition Watchdog Launches Probe Against Big Banks	16/06/21	MT
Spain's Competition Watchdog Investigates Four Banks Over State-Backed Covid-19 Loans -- Update	16/06/21	DJ
Spain's Competition Watchdog Investigates Four Banks Over State-Backed Covid-19 Loans	16/06/21	DJ
CaixaBank S A : Spain's BBVA to cut 2,935 jobs, close 480 branches	08/06/21	RE
Stoxx Europe 600 : European Stocks End Mixed Amid Higher Services PMIs, UK Travel List Update	03/06/21	MT
Credit Agricole S A : Crédit Agricole Takes on Spanish Market With SoYou Buy	03/06/21	MT
Credit Agricole S A : Crédit Agricole Takes Over Full Ownership of Consumer Credit Subsidiary SoYou in Spain	03/06/21	MT
Crédit Agricole Consumer Finance S.A. completed the acquisition of remaining 49% stake in SOYOU from Bankia, S.A..	02/06/21	CI
Caixabank staff protest Spanish layoffs as executives' pay divides shareholders	14/05/21	RE
CaixaBank S A : staff protest Spanish layoffs as executives' pay divides shareholders	14/05/21	RE
CaixaBank S A : Employees Protest Against Job Cuts As Shareholders Meet To Vote On Executives' Pay	14/05/21	MT
BBVA Looks to Cut Roughly 3,800 Jobs	22/04/21	DJ
Stoxx Europe 600 : European Stocks End Lower As Euro, Pound Sterling Rally Against US Dollar	20/04/21	MT
CaixaBank S A : Aims To Cut 8,291 Jobs Following $5.18 Billion Bankia Merger	20/04/21	MT
Market Chatter: CaixaBank To Ax 7,000 Jobs Following $5.1 Billion Bankia Merger	14/04/21	MT
Bankia, S.A.(BME:BKIA) dropped from FTSE All-World Index	30/03/21	CI

Chart Bankia

Duration

Period

More charts

Company Profile

Bankia, S.A. is a banking group organized around three areas of activity: - retail banking (63.5% of Net Interest Income): sales of standard and specialized banking products (consumer credit, insurance, etc.); - business banking (19.7%); - other (16.8%). At the end of 2019, the group was managing EUR 124.8 billion in current deposits and EUR 117.4 billion in current loans. Products and services are marketed via a network of 2,275 branches located in Spain.

Sector

More about the company