The Bank of Portugal (BdP) has set the minimum requirement for own funds and eligible liabilities (MREL) at 21.68% of the amount of risk positions for Montepio, it was announced to the market today.
“In a meeting of its Board of Directors, the BdP decided, based on the consolidated financial position of Banco Montepio, a permanent MREL requirement of 21.68% of the total amount of risk positions [TREA] and 5.30% of the total leverage ratio exposure [LRE],” as stated in the information sent by Montepio to the Portuguese Securities Market Commission (CMVM).
This decision takes effect on September 30.
As of June 30, Montepio’s MREL ratio was 26.9% of TREA and 11.1% of LRE, above the established requirements.
