Banco Santander (ES:SAN) has released an update.
Banco Santander’s Resolution Group has been notified of a slight adjustment in its minimum requirement of own funds and eligible liabilities (MREL), with the Total MREL now set at 29.69% of risk-weighted assets (RWA), a slight decrease from the previous 29.81%. The requirements for Total and Subordinated MREL are to be met by December 31, 2024, with future increases set for January 1, 2025, and June 24, 2025, in compliance with the Bank of Spain and the Single Resolution Board’s guidelines. As of March 31, 2024, the Resolution Group is in compliance with the MREL requirements, holding 417.458 billion euros in RWA and 989.913 billion euros in leverage exposure.
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