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2019-06-12 16:00 CEST
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OP Financial Group clearly fulfils the new minimum requirement for own funds and eligible liabilities (MREL) set by the Financial Stability Authority

OP Corporate Bank plc
OP Cooperative
Inside information
12 June 2019 at 5.00 pm EEST

OP Financial Group clearly fulfils the new minimum requirement for own funds and eligible liabilities (MREL) set by the Financial Stability Authority

The Finnish Financial Stability Authority has set the minimum requirement for own funds and eligible liabilities (MREL) for OP Financial Group, based on the Act on the Resolution of Credit Institutions and Investment Firms. The new MREL is around 13.4 billion euros, or 27.3% of the risk-weighted assets (RWA) at the end of 2017, and it will take effect immediately. OP Financial Group clearly fulfils the requirements set by the authority: according to an estimate, OP Financial Group's MREL ratio was 39% at the turn of 2018.

The MREL are determined annually, using uniform principles applying to all euro-area banks as part of the EU-level resolution regulation. The EU's Single Resolution Board (SRB) based in Brussels is OP Financial Group's resolution authority.

The SRB kept OP Financial Group's resolution strategy unchanged. Any resolution measures would apply to OP Corporate Bank which acts as a Single Point of Entry.

OP Corporate Bank plc
OP Cooperative
Tuuli Kousa
Chief Communications Officer

For more information, please contact:
Vesa Aho, CFO
Contacts through OP Communications, tel. +358 50 523 9904, viestinta@op.fi

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op.fi

OP Financial Group is Finland's largest financial services group whose mission is to create sustainable prosperity, security and wellbeing for its owner-customers and in its operating region by means of its strong capital base and efficiency. OP Financial Group consists of 153 OP cooperative banks, its central cooperative OP Cooperative, and the latter's subsidiaries and affiliates. The Group has a staff of 12,000 and 1.9 million owner-customers.
www.op.fi

HUG#2245988