Competing as a Strong and Independent Portuguese Bank
Theme 3: MREL
Compliant with MREL binding target as of January 1st 2022 and to
continue to build MREL going forward
MREL requirements:
(BdP notification of May 2022; %)
Jan-22
Jan-26
TREA¹
15.14%
23.16%
Combined Buffer
2.52%
n.a.2
Total
LRE³
17.66%
23.16% + CBR
5.91%
5.91%
MREL ratio
(%RWA; Preliminary)
18.7%
17.7%
0.5%
3.3%
Other eligible ≥ 1 year
Senior Unsecured ≥ 1 year
2.2%
Own Funds - Tier 2
12.7%
Own Funds - Tier 1
Jan-22
Binding
Sep-22
Organic capital generation and acceleration of balance sheet deleverage to contribute positively to MREL evolution.
novobanco
(1) TREA - Total Risk Exposure Amount; includes O-SII defined at LSF Nani Investments as communicated by Banco de Portugal on its website on 30 Nov 2021, the O-SII increased from 0.375%
to 0.5%; (2) As of Jan-26 applicable combined buffer requirement; (3) LRE - Total Leverage Exposure
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