Islandsbanki hf.: Approval of a resolution plan and a decision on the minimum requirement of own funds and eligible liabilities (MREL) for Íslandsbanki hf.

Islandsbanki hf.
Islandsbanki hf.

Directive 2014/59/EU on Bank Recovery and Resolution (BRRD I) was i.a. transposed into Icelandic law with Act No. 70/2020 on the resolution of credit institutions and investment firms (the Act). On 8th of December 2021, the Icelandic Resolution Authority of the Central Bank of Iceland published its policy on minimum requirements for own funds and eligible liabilities (MREL-Requirement) according to Art. 17 of the Act (hereinafter the MREL-Policy).

The Resolution Authority announced today that a resolution plan had been approved for Íslandsbanki and thereby an MREL-Requirement for the Bank. The decision is based on the aforementioned MREL-Policy.

The MREL requirement is 21.2% of the Bank‘s Total Risk Exposure Amount (TREA) as per year-end of 2021 and applies from the date of the announcement.

For further information:
Investor Relations - ir@islandsbanki.is
Public Relations - pr@islandsbanki.is

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About Íslandsbanki
With a history that dates from 1875, Íslandsbanki is an Icelandic universal bank with a strong customer focus. The Bank believes in moving Iceland forward by empowering its customers to succeed - reflecting a commitment to run a solid business that is a force for good in society. Driven by the ambition to be #1 for service, Íslandsbanki’s banking model is led by three business divisions that build and manage relationships with its customers. Íslandsbanki maintains a strong market share with the most efficient branch network in the country, supporting at the same time its customers’ move to more digital services. The Bank operates in a highly attractive market and, with its technically strong foundations and robust balance sheet, is well positioned for the opportunities that lie ahead. Íslandsbanki has a BBB/A-2 rating from S&P Global Ratings. The Bank’s shares are listed on Nasdaq Iceland Main Market.

Disclaimer
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