12 Aug 2016 18:22
UNOFFICIAL TRANSLATION
12.08.2016 - Current Report 20/2016: Receipt of the information on the issuance by the Polish Financial Stability Committee of an opinion regarding the identification of Other Systemically Important Institutions ("O-SIIs") and the imposition of the O-SIIs capital buffer on them
Legal basis: Article 17 sec. 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC
The Management Board of Bank Polska Kasa Opieki S.A. ("Bank") hereby informs that it has received information that the Polish Financial Stability Committee, acting pursuant to Art. 39 of the Act on the macro prudential supervision of the financial system and crisis management in the financial sector ("Act on the macro prudential supervision") issued at the request of Polish Financial Supervision Authority ("KNF"), the opinion regarding the identification of Other Systemically Important Institutions (O-SIIs) and imposition of the O-SIIs capital buffer requirement on them.
The Bank is a party to the administrative procedure conducted by the KNF regarding the identification of the Bank as an other systemically important institution and the imposition on the Bank (on a consolidated basis and individual basis) of a requirement to hold an O-SIIs capital buffer, established pursuant to Art. 38 of the Act on the macro prudential supervision - equivalent to 0.75% of the total amount of the risk exposure calculated in accordance with Art. 92 (3) of Regulation (EU) No. 575/2013 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment companies amending Regulation (EU) No 648/2012.
The identification of Other Systemically Important Institutions (O-SIIs) and the imposition of the O-SIIs capital buffer on them will take place in accordance with Art. 39 of the Act on the macro prudential supervision, by way of an administrative decision of the KNF. Until of publication of this report the Bank has not received a decision of the KNF .
The Bank will inform in separate report about the decision of KNF issued in the proceedings on identifying the Bank as an other systemically important institution and the imposition on Bank of the level of the O-SIIs capital buffer.