ESG Strategy and Digital Transformation
Interim MREL requirement of 1 January 2022 achieved
MREL ratio as % of RWAs at 20.18%1 and 19.30% 1 as at 31 Dec 2021 and 1 Jan
2022 both pro forma for HFS
MREL ratio as % of Leverage Ratio Exposure (LRE) of 9.87% as at 31 Dec 2021
and 9.56% as at 1 Jan 2022
Interim MREL requirement as a % of RWAs of 14.94% for 1 January 2022
achieved following inaugural issuance of €300 mn senior preferred notes in June
2021
The Bank will continue to evaluate opportunities to advance the build-up of its
MREL liabilities
MREL (% of RWAs)
20.18%
23.74% as at 31 Dec 2025
31 Dec 2021
pro forma for HFS1
(as % of RWAs)
MREL requirement
(as % of RWAs)
Interim requirement
14.94% as at 1 Jan 2022
MREL ratio and requirement expressed as % of RWAs do not include capital
used to meet the Combined Buffer Requirement (CBR), of 3.75% as at 1 Jan
2022
MREL requirements
Based on BRRD II; The Bank (BOC) is the resolution entity
Final Target of 23.74% of RWAs and 5.91% of Leverage Ratio
Exposure (LRE) to be met by 31 Dec 2025; no subordination
requirement
The own funds used to meet the combined buffer requirement
(CBR) are not eligible to meet MREL requirement as % of RWAs
1) Includes unaudited/unreviewed profits for the year ended 31 December 2021
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