Business
Metro Bank Capital Update
Metro Bank Capital Update.
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n Metro Bank PLC (LSE: MTRO LN)\n \n \n 12 December\n \n \n \n \n \n \n \n \n \n \n \n Metro Bank PLC (\"Metro Bank\")\n \n \n \n \n \n \n \n \n \n Legal Entity Identifier: 213800X5WU57YL9GPK89\n \n \n \n \n \n \n \n \n \n Capital Update\n \n \n \n \n \n \n \n \n Metro Bank (the \"Company\") today announces that the Prudential Regulation Authority has reduced the Company's Pillar 2A capital requirement from 0.50% to 0.36%, effective as of 1 January 2023.\n \n \n \n \n \n This follows the announcement made on 28 June 2022 whereby the Prudential Regulation Authority reduced Metro Bank's Pillar 2A capital requirement from 1.11% to 0.50% and the Bank of England agreed that the binding minimum requirement for own funds and eligible liabilities (\"MREL\") applicable from 27 June 2022 would be equal to the lower of: (i) 18% of RWAs; or (ii) two times the sum of the Company's Pillar 1 and Pillar 2A.\n \n \n \n \n \n The Pillar 2A reduction implies that Metro Bank's MREL requirement (excluding buffers) would therefore reduce from 17.0% to 16.7%, effective as of 1 January 2023.\n \n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (which forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and was authorised for release by Daniel Frumkin, Chief Executive Officer.\n \n \n \n \n \n \n \n \n \n \n \n ENDS\n \n \n \n \n \n \n \n \n \n For more information, please contact:\n \n \n \n \n \n \n \n \n \n Metro Bank PLC Investor Relations\n \n \n \n Jo Roberts\n \n \n +44 (0) 20 3402 8900\n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n Metro Bank PLC Media Relations\n \n \n \n Mona Patel\n \n \n +44 (0) 7815 506845\n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n Teneo\n \n \n \n Charles Armitstead / Haya Herbert Burns\n \n \n +44 (0)7703 330269 / +44 (0) 7342 031051\n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n About Metro Bank\n \n \n \n \n \n \n \n \n Metro Bank services 2.6 million customer accounts and is celebrated for its exceptional customer experience. It is the high...