Compliance with the minimum requirement for own funds and eligible liabilities – Q4 2023

Press release 1 March 2024

All systemically important banks and other institutions were compliant with the minimum requirement for own funds and eligible liabilities (MREL) at the end of the fourth quarter. Today, the Swedish National Debt Office released its quarterly report on MREL compliance.

MREL has been phased in until 1 January 2024. To enable a linear build-up of MREL, including subordination requirements, the Debt Office has set target levels that apply as of 1 January 2022 as well as communicated indicative levels that apply as of 1 January 2023.

At the end of the fourth quarter of 2023, all systemically important institutions met the MREL set for them. This means that the institutions reached the target levels for risk-based and non-risk-based MREL.

All institutions also had a sufficient amount of own funds and subordinated liabilities for the target levels of the subordination requirement.

On 31 December 2023, the systemically important institutions had issued SEK 266 billion in subordinated liabilities.

The Debt Office makes decisions on MREL annually. Further information about MREL and its application for Swedish institutions is available in the Debt Office’s MREL policy and on the Debt Office’s website.

The report Minimum requirement for own funds and eligible liabilities (MREL) – Compliance Q4 2023.

Contact

Debt Office press function: +46 8 613 47 01, press@riksgalden.se