PFSA recommendation concerning the additional capital requirement under Pillar 2 (P2G)

Getin Noble Bank S.A. announces that on 11 February 2022 it received from the Polish Financial Supervision Authority (“PFSA") a recommendation to maintain, at both individual and consolidated levels, own funds to cover an additional capital charge at the level of 3.57 p.p. in order to absorb potential losses resulting from a stress scenario ("P2G").

This figure is made up of 3% of the basic capital charge recommended under Pillar II and 0.57% of the supplementary capital charge recommended under Pillar II.

The recommendation should be implemented above the total capital ratio referred to in Article 92(1)(c) of Regulation No 575/2013 (TCR), increased by an additional own funds requirement referred to in Article 138 section 2(2) of the Banking Law act and the combined buffer requirement referred to in Article 55 section 4 of the Act on macroprudential supervision. The additional charge should consist entirely of Common Equity Tier 1 capital.

The P2G recommendation applies to the Bank from the moment of receipt of the information from the PFSA.

Legal basis: Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 (MAR).