The Financial Supervisory Authority of Norway (Finanstilsynet) conducts regular assessments ofSpareBank 1 Nord-Norge's risk and capital requirements (SREP). The bank normally undergoes a SREP every second year, and as part of this process, a decision is made concerning Pillar 2 Requirement (P2R) and expectations regarding the capital buffer (P2G).SpareBank 1 Nord-Norge has now received this year's SREP decision from Finanstilsynet. The requirements will apply from 31.December 2023 .SpareBank 1 Nord-Norge's new Pillar 2 requirement (P2R) amounts to 1.4 per cent of the risk weighted assets (RWA). This is 0.1 percentage point lower than current SREP decision from 2022 (1.5 per cent). Minimum 56.25 per cent of the requirement must be covered by CET1, while 75 per cent must be covered by CET1 and AT1. This is also a change from the current SREP decision from 2022, and means that the regulatory requirement for CET1 ratio is reduced by 0.7 percentage points overall. Finanstilsynet also expectsSpareBank 1 Nord-Norge to have a capital buffer (P2G) in the form of CET1 of 1 percentage point. This is in line with the bank's already established internal capital target. For further information:Marius Nilsen , CRO, tel: +47 416 20 532Bengt Olsen , CFO, tel: +47 975 89 560 This information is subject to the disclosure requirements pursuant to section 5-12 of the Securities Trading Act.
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